'India has potential to become 2nd largest steel manufacturer'

SME News, Friday, Nov 02, 2012 12:16:18 PM IST

SAIL signs 31 MoUs with foreign partners: Steel Minister

Steel Minister reviews performance of SAIL

NEW DELHI: Pushed by the expansion plans of steel companies, comprising Rashtriya Ispat Nigam (RINL) and Steel Authority of India (SAIL), India will emerge as the second largest steel manufacturer in the globe, according to Centre.

Steel Minister Beni Prasad Verma said chairing a meeting of a parliamentary consultative committee to review the functioning of RINL, “India will soon become the second largest manufacturer of steel in the world. Steel capacity in the country has increased from 66 million tonne (MT) in 2009 to 90 MT in 2012.”

Presently, the per capita steel consumption in India has jumped from 38 kg to 59 kg.

India fell one rank to emerge as the fourth largest steel manufacturer during 2010 with the help of 68.3 million tonnes (MT) of production.

China is considered as the most prominent steel producer, followed by Japan and the US at second and third places, respectively.

next >>

<< previous

Hot Topics

'India has potential to become 2nd largest steel manufacturer'

Other Categories

More ways to get us

Subscribe by E-mail