Steel Secretary lays stress on improving techno-economic parameters
Efforts are being made to make India second largest steel producer in next three to four years, according to Union Steel Secretary P.K. Misra.
Speaking at a meeting conducted by CII at Ukkunagaram on Monday, he said steel producers should focus on improving techno-economic parameters, cost-effectiveness and research and development.
CII Vizag Zone chairman R.V.S. Raju presided . Rashtriya Ispat Nigam Ltd Chairman-cum-Managing Director A.P. Choudhary, Directors T.K. Chand (commercial), Umesh Chandra (operations), P. Madhusudhan (finance), Y.R. Reddy (personnel) and CII former zonal chairman K.V. Bhaskar spoke. Mr. Chand, who is the zonal vice-chairman of CII, welcomed.
Mr. Misra said India had come a long way in making its presence felt in the world steel market. It had occupied eighth rank in 2003 and in 2010 turned the fourth largest steel producer.
Admitting that sluggishness in construction, automobile and manufacturing sectors had its impact on steel consumption, he said, the problems notwithstanding the steel production had gone up by 9.8 per cent during first half compared to last year. Stating that the World Steel Federation had predicted a growth rate of 8 per cent for the Indian steel industry, he said could go up further as generally during the last quarter of the fiscal, the industry recorded a lot of production. Underlining the need to produce more cheaper steel, he said to compete with others, Indian steel had to be cost-effective. He said China was able to sell its steel a lot as it was cheaper than Indian steel. If the steel sector grew phenomenally in India, it would also have a cascading effect on other sectors.
Complimenting RINL for its excellent performance, he said the company had good management and a highly motivated workforce and hoped that it would achieve its aim to make VSP a 20-million-tonne steel plant.