Prime Minister Narendra Modi addressed the India Steel 2025 programme, highlighting steel’s crucial role in modern economies and its significance in India’s development. He expressed pride in India being the second-largest steel producer globally and set a target of producing 300 million tonnes of steel by 2030 under the National Steel Policy. PM Modi emphasized the goal of achieving ‘Zero Import’ and ‘Net Export’ for infrastructure projects while urging the steel sector to innovate with new processes and scales. With ongoing mining reforms improving iron ore availability, he called for efficient utilization of natural resources and accelerated green-field mining.
During the event, which aims to foster partnerships and innovation, he noted India’s rising per capita steel consumption, expected to reach 160 kilograms by 2030. The Prime Minister linked the steel industry’s growth to India’s aspiration of becoming a $5 trillion economy. He highlighted various infrastructural advancements, including the PM-Gati Shakti National Master Plan, aimed at enhancing connectivity in mine areas and steel units. The $1.3 trillion National Infrastructure Pipeline, along with welfare initiatives such as the PM Awas Yojana and Jal Jeevan Mission, provides new opportunities for the industry. The emphasis on using ‘Made in India’ steel reflects the government’s commitment to bolstering domestic production and consumption.
PM Modi highlighted the essential role of the steel industry in bolstering various sectors such as manufacturing, construction, machinery, and automotive, emphasizing that government policies are enhancing global competitiveness. He mentioned the National Manufacturing Mission introduced in this year’s Budget to boost the ‘Make in India’ initiative, benefitting industries of all sizes.
Expressing pride in India’s capability to produce high-grade steel domestically, particularly used in critical sectors like defense, he pointed out the steel’s contribution to India’s indigenous aircraft carrier and the Chandrayaan mission. Modi cited the Production-Linked Incentive (PLI) scheme, which supports high-grade steel production, and noted the growing demand for such steel driven by new mega-projects. He also mentioned shipbuilding’s new classification as infrastructure, aiming for domestic manufacturing and export of modern ships.
With a target of zero imports and a goal of exporting 25 million tons of steel while enhancing production capacity to 500 million tons by 2047, he stressed the need for the industry to adopt advanced technologies. Addressing challenges like raw material security, he called for improved global partnerships and a swift transition to energy-efficient, digitally advanced practices in the steel sector. Modi urged collaboration in R&D and technology for job creation, showcasing optimism for the industry’s future shaped by innovation and cooperation.
The Prime Minister addressed the critical influence of coking coal imports on costs and the broader economy, urging exploration of alternatives to lessen this dependency. He promoted technologies like the Direct Reduced Iron (DRI) route and coal gasification as means to enhance domestic coal utilization while reducing imports. He called on stakeholders in the steel industry to actively engage in this initiative.
Further, Modi highlighted the need to address the issue of unused greenfield mines, citing mining reforms over the past decade that have simplified iron ore availability. He urged the effective utilization of allocated mines to optimize resources, warning that delays could harm the industry and emphasizing the urgency of advancing greenfield mining efforts.
The Prime Minister declared that India is shifting focus from solely domestic growth to preparing for global leadership, with the country now recognized as a reliable supplier of high-quality steel. He stressed the necessity of maintaining world-class standards in steel production and continuously upgrading capabilities. Improving logistics, developing multi-modal transport networks, and reducing costs are key steps for India to establish itself as a Global Steel Hub. He concluded by underscoring that the India Steel platform can transform ideas into actionable solutions, wishing success to all participants in building a resilient and steel-strong nation.
