India Emerges As The 2nd Largest Producer Of Crude Steel In The World

New Delhi, June 8 (TNA) India currently ranks as the World's 2nd Largest Producer of Crude Steel, surpassing Japan in 2018, Union Minister of Steel and Civil Aviation, Jyotiraditya M. Scindia while mentioning the remarkable growth recorded by India’s steel industry has said.

He held a press conference on the theme 9-years of Government's "Seva, Sushasan and Gareeb kalyan" focusing on the Steel sector, at Rajiv Gandhi Bhawan, New Delhi on Wednesday. India currently ranks as the World's 2nd Largest Producer of Crude Steel, surpassing Japan in 2018.

A a net exporter of steel witnessing an export of 6.72 MT of finished steel against the import of 6.02 MT in 2022-23. The country was a net importer of steel in 2014-15 with 9.32 MT imports Vis-à-vis the export of 5.59 MT. From (2014-15 to 2022-23), Steel CPSEs viz. SAIL, NMDC, MOIL, KIOCL, MSTC, and MECON, used ₹90,273.88 crores of their own resources for CAPEX and paid a dividend to the Government of India to the tune of ₹21,204.18 crores

He laid special emphasis on the Steel Scrap Recycling Policy for promoting the scientific processing and recycling of ferrous scrap, said that Six Vehicle Scrapping Centres have been opened in various cities, with three more planning to begin their operations soon. The minister also mentioned that End-of-life vehicles (ELVs), will be used as raw material for the production of steel and in this regard state governments as well as private sector are being on-boarded.