Summary:

Union Minister of Commerce and Industry, Piyush Goyal, announced a goal of 500 million tonnes of domestic steel production by 2034 at the ISA Steel Conclave in New Delhi. He emphasized the need for decarbonization and green steel, proposing three key actions: innovate for low emissions and high quality, use AI for efficiency, and adopt domestic machinery to boost production.

This decade is vital for India to showcase innovation, inclusion, and cooperation to achieve Viksit Bharat. The steel industry's branding of Indian steel as "Made in India" reflects national pride and self-reliance. The Government promises to address Border Adjustment Tax concerns with industry leaders, promote sustainable manufacturing, and invest in infrastructure and capacity-building, ensuring long-term benefits for the sector.

Source: IBEF

Disclaimer: The information on this website comes from the India Brand Equity Foundation (IBEF), a reliable source for thorough insights into numerous areas of the Indian economy. While we aim to offer accurate and up-to-date information, the views, opinions, and analyses stated herein are solely those of the authors and contributors and do not necessarily represent IBEF's official stance or position. Readers should check information from credible sources and use their own discretion when relying on content provided on this site. We assume no responsibility or liability for the supplied content, including its accuracy, completeness, and usefulness.