Govt Enforces ‘Melt and Pour’ Rule for All Steel in Public Projects Nippon Steel expected to finalize U.S. Steel acquisition at $55 per share NMDC Limited reports a 38% drop in Q4 FY24 consolidated net profit RINL to Raise $23 Million Through Land Sales Amid Crisis
Union Minister of Civil Aviation and Steel, Jyotiraditya M. Scindia, addressed a gathering at the inauguration of India's first green hydrogen plant in the stainless steel sector, marking a landmark moment in India's economic landscape. The Jindal Stainless Green Hydrogen project opened the door for a more environmentally friendly and sustainable future, and the inauguration ceremony was a significant turning point in India's transition to sustainable industrial practices.
Minister Scindia expressed his delight at inaugurating the first green hydrogen plant, representing the united efforts of two inventive powerhouses, Jindal Stainless and Hygiene Co. Scindia said, "It gives me tremendous pleasure to inaugurate this first green hydrogen plant, which is a coming together of two innovative Park baking firms in the form of Jindal stainless and hygiene co steering the path for the steel sector not only within India but in many ways across the world".
Reflecting on the unprecedented challenges posed by the COVID-19 pandemic, Minister Scindia highlighted the resilience demonstrated by nations worldwide in overcoming this adversity. He underscored the importance of reinvigorating trade, commerce, and economies as the world emerges from the pandemic, focusing on generating employment opportunities and improving the quality of life for people globally.
Drawing inspiration from Prime Minister Modi's vision for India, Minister Scindia emphasized the importance of seizing opportunities in critical sectors such as the national green hydrogen mission, semiconductors, drones, and others. He stressed the need for proactive leadership in harnessing these opportunities to propel India towards becoming a global leader in innovation and technology.
"As PM Modi said to us that- whether it is the area of national green hydrogen mission, whether it is the area of semiconductors We just started about two new plants being set up for wafers in India, where there's the area of drones, So we must catch opportunities early as responsible leaders of the world harvest those opportunities and become world leaders in those areas," said Minister Scindia.
Minister Scindia further emphasised the pivotal role of the steel sector in India's journey toward becoming a dominant global economic power. He highlighted India's current status as the fifth-largest economy and projected its ascent to surpass Germany and Japan within the next three to four years, solidifying its position as the third-largest economy globally. The inauguration of India's first green hydrogen plant within the stainless steel sector represents a significant leap forward in India's quest for sustainable development and economic growth.
Also Read : India's coking coal imports hit a record high, with Russia and US emerging as major suppliers India’s coal sector expects to get investment of ₹1.25-lakh crore in 2024