India must expand steel production to achieve 'zero import and net export' goal: PM Modi

PRIME Minister Narendra Modi on Thursday highlighted the need for a goal of "zero imports" and a focus on net exports for the steel sector as "India is currently working towards a target of exporting 25 million tons of steel and to increase production capacity to 500 million tons by 2047".

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Addressing the India Steel 2025 programme at Mumbai via video, PM Modi emphasised the importance of preparing the steel sector for new processes, grades, and scales, urging the industry to expand and upgrade with a future-ready mindset.

"We are proud that today India has become the second largest steel producer in the world, and we have set a target of producing 300 million tonnes of steel by 2030 under the National Steel Policy," he said.

The Prime Minister underlined the vast employment generation potential of the steel industry and called upon both the private and public sectors to develop, nurture, and share new ideas. He emphasised collaboration in manufacturing, R&D, and technology upgrades to create more job opportunities for the country’s youth.

He also highlighted that the $1.3 trillion National Infrastructure Pipeline is being advanced to accelerate the projects that are being implemented, which would open fresh opportunities for the steel sector.