Ministry of Steel urges industry to make minerals & mines sector self-reliant

The two-day conference, featured several engaging and pertinent presentations on Industry Vision 2047 for India’s Minerals and Metals Sector

Ministry of Steel

Union Minister of State for Steel and Rural Development, Faggan Singh Kulaste, stated that the mineral and metal sector has been crucial to the development of the nation and will help move India from a developing to a developed nation. 

The Minister said that the sector should be more innovative, competitive, and research-friendly to improve its capacity for production of minerals and metals to meet the needs of the country as well as to export them in his address to the closing session of the two-day International Conference on Indian Minerals and Metals Industry – Transition Towards 2030 & Vision 2047.

Natural resources, and their fullest utilisation while minimising environmental damage, will be the main drivers of our progress toward growth, according to Kulaste. Every component of the country’s infrastructure is being developed in a significant way thanks to the steel industry. To support the sector’s players, the Ministry of Steel has launched a number of initiatives like the PLI Scheme and FDI, among others, the Minister continued.

Addressing the session, Singh emphasised the need to cut carbon emissions in the steel industry in order to transition to green steel as PM Modi has ordered. With a suitable roadmap in place, according to Singh, the steel sector’s 300 MT and 500 MT target capacities for 2030 and 2047, respectively, will be met. 

The Secretary of Steel highlighted that in order to accomplish the intended course, it would be ideal to convert the estimated reserves of iron ore into resources.

Kundan Kumar, Joint Secretary (NITI Aayog), stated that the country’s industrial and infrastructure growth has been significantly influenced by the mining and metal industry. In order to ensure that the necessary policy is put in place for the growth, expansion, and diversification of the Indian mines and minerals sector, Kumar urged the industry to develop a thorough and detailed programme for the minerals and mines sector and submit it to all stakeholders for necessary action.

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CEO of NMDC Ltd. and session’s moderator, Sumit Deb, urged the attendees and policymakers to support the sector by helping it become operationalized and functionalized appropriately for greater and wider growth because it has the potential to significantly increase its current contribution to the national GDP of about 2 per cent.

The two-day conference, which was held by NMDC in collaboration with FICCI, featured several very engaging and pertinent presentations on Industry Vision 2047 for India’s Minerals and Metals Sector.

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