Secondary steel sector important: Birender Singh

9/14/2018

New Delhi, Union Steel Minister Chaudhary Birender Singh on Thursday said that the secondary steel sector has to play an important role along with integrated steel players for country's aim to create a globally competitive steel market and to achieve 300 million tonne capacity by 2030 -31. Mr Singh, who on gave away Secondary Steel Sector awards to 26 mini steel companies in recognition of their contribution to the national economy, said that the secondary steel sector contributes to more than half of the total steel production in the country.Twelve companies were awarded Gold Certificates and 14 Silver Certificates for their performance during 2016-17. It was for the first time that these awards were being given by the Ministry of Steel, wherein twelve companies were awarded Gold Certificates and 14 Silver Certificates for their performance during 2016-17. Currently, the country has 134 MT capacity and the consumption of steel per capita here has almost touched 70 kg, said Steel Secretary Binoy Kumar, who was also present on the occasion. He said that this recognition will not only encourage the secondary steel sector to improve its performance, but will also push them to improve the quality of production. Steel, is one of the core sectors of the country's economy, being the 3rd largest steel producer in the world. It contributes to over 2 per cent to the GDP and also creates a virtuous cycle of employment generation throughout the economy.