Indian Prime Minister Shri Narendra Modi, who participated in India Steel 2025, organized for the sixth time this year by the Indian Ministry of Steel and the Federation of Indian Chambers of Commerce and Industry (FICCI), made important assessments on the strategic position of the steel industry in the country's development.
Reminding that India is the world's second largest steel producer, Modi announced that they are targeting a production of 300 million tons by 2030, while per capita consumption is expected to increase from 98 kg to 160 kg.
Modi reiterated his decision to use only domestic steel in government projects, saying that state-led initiatives account for the bulk of steel demand in the sector. He also added that the target is to increase capacity to 500 million tons by 2047 to boost production.
Pointing out that India is still dependent on imports for critical raw materials, Modi emphasized the need to strengthen global partnerships in this area and promote alternative technologies. He stated that artificial intelligence, automation and recycling technologies will shape the future of the steel industry.
Concluding his speech with the words, “We must all work together for a stronger, resilient and steely India,” Modi called on industry stakeholders to take joint action.
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