Steel Minister Chaudhary Birendra Singh advised domestic steel producers to explore ways to enhance steel consumption and utilise the time in the highly dynamic economic scenario.
"Domestic steel producers should take all steps to promote use of steel at the earliest as time is of essence in the fast changing business scenario," a statement by domestic steel giant SAIL said quoting the Minister at a customers meet in Jind (Haryana).
The customer meet, to boost steel consumption in Haryana, was organised by state-run steelmakers SAIL and RINL.
SAIL and RINL should quickly stabilise their modernised facilities, maximise their performances and strengthen the domestic sector, Singh said.
"Domestic steel industry should exhibit a sense of urgency in leveraging their R&D strength thus improving their cost efficiencies," he added.
Elaborating on opportunities for steel firms in Haryana, the Minister said the state is an industrially as well as agriculturally developed state which is widening its scope of development for industries and this will present good opportunity for improved steel consumption.
On tapping demand in Haryana, SAIL said that the state already has a strong presence in automobiles and auto ancillaries space, which coupled with the Centre's smart cities mission can provide steel firms opportunities to enhance steel consumption.
The state has major industrial zones for country's northern region with presence of several national and international manufacturing companies from sectors including automobile, heavy industries, engineering parts and equipments, paints, diary, agricultural equipments, housing materials, tube & pipes etc, it added.
In tandem with the vision of central government's progressive policies, Haryana government is also keen to develop many cities as smart cities and Faridabad and Karnal have already found its niche in the centre's 'Smart Cities Mission', SAIL said.
All these factors culminate to a strong opportunity for improved steel consumption in Haryana providing a conducive market for domestic producers, it said.
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