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Steel minister remains bullish for Indian steel and mining sector in 2016-The 17th China£¨Guangzhou£©Int¡¯l Sheetmetal machinery, Forging, Stamping and Setting Equipment Exhibition
1/7/2016 Sheetmetal machinery expo |
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Mail Today reported that India¡¯s Minister for Steel and Mines, Mr Narendra Singh Tomar, is bullish in his outlook for the country''s steel and mines sector going ahead into 2016.
Mr Tomar told MAIL TODAY ¡°India became the third largest steel producer in the world in 2015, relegating the US to the fourth spot. In 2016, we will try to minimise the gap between India and the second largest steel producer, and thus move closer to becoming the second largest steel producer in coming years.¡±
He added that India has emerged as the only country among the major steel producing nations of the world to record a positive trend in steel production and consumption in 2015. He said ¡°During the first 11 months of 2015, India''s steel output recorded a growth of 2.8 per cent compared to the same period of the previous year, while world steel production registered a decrease of 2.8 per cent.¡±
He told ¡°India''s steel production capacity has increased by 6 per cent in 2015. And consumption has increased by Govt bullish on country''s mining sector around 5 per cent. Public sector enterprises under the Ministry of Steel completed modernisation and expansion projects to enhance their crude steel capacity. Prime Minister Narendra Modi had dedicated two of these projects to the nation, the projects being SAIL''s Rourkela Steel Plant in Odisha and IISCO Steel Plant at Burnpur, West Bengal. These two plants added a steel production capacity of nearly five million tonne to the country.¡±
He also said "In the mining sector, which was moribund in 2014, we have brought in policy and regulatory changes including MMDR Amendment Act 2015. As a result, mineral production has shown an upward trend in most of the minerals in 2015. MDR Amendment Act, 2015 introduced transparent and competitive e-auctions. This will lead to higher returns from mineral resources. Around 35 mines/blocks have been notified for auction in the first phase.¡±
-The
17th China£¨Guangzhou£©Int¡¯l
Sheetmetal machinery, Forging, Stamping and Setting Equipment Exhibition
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