News:The Indian Steel Association supported by the Ministry of Steel, is organising the second Edition of ISA – Steel Conclave in New Delhi.
About the conclave:
- The conclave is a premier platform for the entire Steel Ecosystem and the related sectors to gain valuable insights in the Stell industry.
- The conclave would cover pertinent issues and deliberations on Indian and Global Perspectives of the Steel Industry.
- A report on the Status of Indian Steel Industry will also be released during the conclave.
Steel Industry Overview
- India is the world’s 2nd largest producer of crude steel(106 MT) in calendar year 2018.
- It is the largest producer of Direct Reduced Iron (DRI) or Sponge Iron(30.36MT) in the world.
- India is the 3rd largest consumer of finished steel in 2018 [96MT] in the world.
- The steel sector contributes around 2% of the country’s GDP and employs around 25 lakhs persons in steel/allied sectors.
- India is the 4th largest Iron ore producer in the world.
- India is the second largest coal producer and importer after China.
- The National Steel Policy – 2017 envisages creation of 300 MT of steel capacity in the country by 2030-31, as against existing capacity of 138 MT.