INTERACTION FOR INCREASING STEEL USE IN HARYANA ORGANISED BY SAIL & RINL

New Delhi/Jind, Aug 02, 2016: For the Northern Region’s customers, an interaction for increasing steel use in Haryana was organized in Jind, Haryana today, which was graced by Steel Minister Chaudhary Birender Singh. Haryana MLA  Prem Lata Singh also attended the event. The customers meet based on boosting steel consumption was organized by Steel Authority of India Ltd. (SAIL) and Rashtriya Ispat Nigam Ltd. (RINL), the two major steel PSUs under the Ministry of Steel.

This customer’s meet was arranged at a time when India is amongst the few world markets where steel consumption has better prospects and steel demand is expected to grow on back of government’s sustained spending on infrastructure, construction, housing, smart cities, Make in India etc. initiatives. The average per capita consumption of steel in India is below 60 kg and in rural India a mere 12 Kg, thus providing ample opportunity to boost steel consumption. While the steel market is globally challenging, the domestic industry must take innovative steps to enhance country’s steel consumption and counter the effects of cheap imports by its cost effective and quality steel. Domestic industry should use design & product engineering for enhancing steel consumption by establishing steel’s cost effectiveness, quality & durability as a material for construction in sectors like infrastructure, transportation and urban development.

Haryana is a developed state with a good blend of agricultural as well industrial base in its economy. The state has major industrial zones for country’s northern region with presence of several national and international manufacturing companies from sectors including automobile, heavy industries, engineering parts and equipments, paints, diary, agricultural equipments, housing materials, tube & pipes etc. Along with this, the state has a handsome and strong agriculture and food processing industry. In tandem with the vision of central government’s progressive policies, Haryana government is also keen to develop many cities as smart cities and Faridabad and Karnal have already found its niche in the centre’s ‘Smart Cities Mission’. All these factors culminate to a strong opportunity for improved steel consumption in Haryana providing a conducive market for domestic producers.

Addressing the customer’s meet, Hon’ble Steel Minister said, “Haryana is an industrially as well as agriculturally developed state which is widening its scope of development for industries and this will present good opportunity for improved steel consumption.” Expressing his confidence on the domestic steel industry including SAIL and RINL, he said, “the domestic steel industry should exhibit a sense of urgency in leveraging their R&D strength thus improving their cost efficiencies. The domestic steel producers should take all steps to promote use of steel at the earliest as time is of essence in the fast changing business scenario. SAIL and RINL should quickly stabilize their modernized facilities, maximize their performances and strengthen the domestic sector.”