INS Vikrant an example of Indian steel industry's prowess, says PM

”Due to this, we have succeeded in increasing the production capacity of high-grade steel and reducing its import. The use of this high-grade steel has increased in critical and strategic applications. Before you is the example of INS Vikrant,” he said.

The Prime Minister said scientists of DRDO (Defence Research and Development Organisation) developed the special steel used in the aircraft carrier and Indian companies produced thousands of metric tonnes of the high-grade alloy.

”INS Vikrant was completely made with indigenous capability and technology. To promote such capability, the country has now set a target of doubling the production capacity of crude steel. We currently produce 154 MT of crude steel (per year). Our target is to achieve 300 MT production capacity in the next 9 to 10 years,” he said.

He said India’s dependence on other countries for manufacturing of the aircraft carrier was not right. ”To change this, we were required to become self-reliant, and the Indian steel industry accepted the challenge with a new energy,” the PM maintained.

Modi said India is rapidly moving towards becoming the world’s largest steel manufacturer and the government is actively engaged in framing necessary policies and creating conducive environment for further development of the sector.

"Due to everyone’s efforts in the last eight years, the Indian steel industry has become the second largest steel producing industry in the world. There is an immense potential for (further) development of this industry,” he stated.

Maintaining that the industry faces the challenge of carbon emissions, the PM said his government is promoting the use of environment-friendly technologies.

”Today, India is emphasising on developing production technologies which not only reduce carbon emissions, but also capture and reuse carbon. Circular economy is also being encouraged in the country and the government and private sector are working together on this,” he stated.

Circular economy is a model of production and consumption, which involves sharing, leasing, reusing, repairing, refurbishing and recycling existing materials and products.

Modi said the government is committed to take the steel industry to new heights and expressed confidence the ArcelorMittal Nippon Steel India’s expansion project will provide a fillip to development of the region and boost growth of the sector.

He said investment of over Rs 60,000 crore in the Hazira plant expansion will create employment opportunities for the youth of Gujarat and the country. After the expansion, the crude steel production capacity at AM/NS India’s Hazira plant will increase from 9 million tonnes per annum to 15 million tonnes per annum, he said.

Along with the expansion, a totally new technology is coming to India which will be a huge help in electric vehicle, automobile and other manufacturing sectors, the PM stated.

The project of ArcelorMittal Nippon Steel India will prove to be a milestone in the ’Make in India’ drive (aimed at country becoming manufacturing powerhouse) and give new strength to achieve developed India status and attain self-reliance in the steel sector, Modi said.

In his speech, Modi underlined the growing role of the steel industry in moving towards the developed nation status by 2047.”When the steel sector is strong in a country, then it strengthens the infrastructure and helps expansion of roads, railways, airports and ports and adds new dimensions in construction and automotive sectors. It also gives new energy to defence, capital goods and engineering products,” the PM said. PTI KA PD NP RSY RSY