‘India can save Rs 1 lakh cr if it recycles 90 mn tonnes of steel scrap’
Use of steel in unconventional sectors needs to be explored to increase the domestic consumption said the Union Minister of Steel, Chaudhary Birender Singh, speaking at the 11th Minerals, Metals, Metallurgy & Materials International Exhibition and Conference (MMMM 2016).
He further said, "besides this, our focus is on research and innovation. This is precisely why we have set up Steel Research & Technology Mission of India (SRTMI), so that India, like developed nations, can produce futuristic products as well." Commenting on MIP, he said, "It has been extended for two months for 66 products and the Government shall review the situation post that."
In her address Dr Aruna Sharma, Secretary Steel, Government of India said, "If we recycle 90 million tonnes of steel from Auto-Shredding, we can save to the tune of Rs 100,000 crores worth of raw materials and this shall reduce the imports too."
On industry's concerns regarding dumping in the steel sector, she said, "MIP is a short term measure but if any country resorts to dumping, India will do whatever is possible to protect its interests. The only way to mitigate the impact of low international prices is to achieve operational efficiency and optimal use of resources. The quality of steel produced and its domestic consumption need to be enhanced aggressively, and infrastructure growth is the main driving factor for it."
"The Ministry of Mines has started mapping natural resources across the country. A national database of quality and quantity of resources available shall be helpful in many ways including managing clearances from the Ministry of Environment, Forest & Climate Change," added Dr Aruna Sharma, Secretary Steel.
Steel is crucial to competitiveness of manufacturing in at least nine industries out of nearly two dozen sectors identified by the Government as focus areas under 'Make in India' including automobile, automobile components, construction, defence manufacturing, electrical machinery, railways, renewable energy, thermal power, and oil & gas.
The International Conference on Minerals & Metals and their contribution to 'Make in India' deliberated the measures including regulatory costs; effective utilization of low grade mineral resources; technologies for operation efficiency; infrastructure efficiency for inbound and outbound transportation of raw materials and finished goods; and availability of energy at competitive costs.
There are technical sessions on comparison of Indian steel sector with global scenario; Indian super alloys industry; Indian non-ferrous industry; role of infrastructure sector and financial sector in shaping the future of metal sector, during the 3-day event.