Mr Virbhadra Singh union minister of steel during a CII Steel Mart conference in Chandigarh said that demand for steel in the northern region is growing at the rate of 10% to 12% a year, while steel produced is only 9% which is affecting the production and supply process.
Northern region is the largest consumer of steel with changing skylines of rural India. Mr J Mehra director of Essar Group said that “If the major issue of availability of power is resolved by the states or through captive generation, the steel sector in north is poised for steep growth. Other impediments which need to be addressed are project clearance and untimely delivery of raw material.
Mr JK Arora president of All India Induction Furnace Association also demanded support from the steel ministry. He noted that “Secondary steel industry, once regarded as a scrap processor, today produced about 30 million tonnes of steel operating at a growth of 20% annually, involving green technologies. We are in processes of putting up a cooperative and all we seek is support from the government. We need no subsidies, but do not want to be cross subsidized.”
The conference aimed at deliberating on the challenges and opportunities that the industry is facing.
