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Prime Minister Narendra Modi has reaffirmed the strategic importance of the steel sector in India’s development journey. In a recent statement, he described steel as the “backbone of a rising India,” highlighting its vital role across infrastructure, defence, clean energy, and electric mobility.
The statement came in response to insights shared by Union Steel Minister HD Kumaraswamy, who outlined the sector’s contributions to national growth and its alignment with the government’s vision of Atmanirbhar Bharat (self-reliant India).
India has seen a significant surge in steel production, becoming the world’s second-largest producer. Since 2014, domestic output has nearly doubled, supported by key policy initiatives such as the Domestically Manufactured Iron & Steel Products (DMI&SP) Policy and Production Linked Incentive (PLI) schemes.
The government aims to boost steel production capacity to 300 million tonnes per annum (MTPA) by 2030. This growth is also geared toward fostering green steel technologies and enhancing India’s global competitiveness.
Steel Minister Kumaraswamy emphasized that the sector is powering major infrastructure projects, including highways, metro networks, defence manufacturing, and renewable energy development. He praised the role of MSMEs in this transformation, positioning the steel industry as a cornerstone of India’s economic resilience.
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