Prime Minister Narendra Modi on Friday announced that  the country has now set a target of "doubling the production capacity of crude steel” in about a decade's time. He was addressing  the gathering on the occasion of Rs 60000 crore  expansion of ArcelorMittal Nippon Steel India Hazira plant in Gujarat.

“An investment of more than 60 thousand crores will create many employment opportunities for the youth of Gujarat and the country. After this expansion, the crude steel production capacity at Hazira Steel Plant will increase from 9 million tonnes to 15 million tonnes”, the Prime Minister informed the gathering while addressing them via video conferencing.

Underlining the growing role of the steel industry in goals of moving towards a developed India by 2047, the Prime Minister said that a strong steel sector leads to a robust infrastructure sector and also fulfills needs of the defence sector.

Similarly, the steel sector has a massive contribution in roads, railways, airport, ports, construction, automotive, capital goods, and engineering products, he said

The Prime Minister noted that along with the expansion, a totally new technology is coming to India which will be a huge help in the electric vehicle, automobile and other manufacturing sectors.

“I am sure that this project of ArcelorMittal Nippon Steel India will prove to be a milestone in the vision of Make in India. This will give new strength to our efforts for a developed India and self-reliant India in the steel sector”, said Modi.

Referring to the world’s expectations from India, the Prime Minister said that India is rapidly moving towards becoming the world’s largest manufacturing hub and the government is actively engaged in creating the necessary policy environment for the development of this sector.

“Due to everyone’s efforts in the last 8 years, the Indian steel industry has become the second largest steel producing industry in the world. There is immense potential for development in this industry”, he added.

The Prime Minister listed the measures to further promote the Indian steel industry. He said the PLI scheme has created new avenues of its growth. Giving the example of INS Vikrant, the Prime Minister informed that the country has gained expertise in high-grade steel whose use is increasing in critical strategic applications.

The Prime Minister said that the scientists of DRDO developed the special steel used in the aircraft carrier. Indian companies produced thousands of metric tons of steel. And INS Vikrant was completely ready with indigenous capability and technology.

"To promote such capability, the country has now set a target of doubling the production capacity of crude steel. We currently produce 154 MT of crude steel. Our target is to achieve 300 MT production capacity in the next 9-10 years", announced the Prime  Minister.

Pointing out the challenges that come across when the vision of development is taking place, the Prime Minister gave the example of carbon emissions for the steel industry.

He explained that on the one hand India is expanding the capacity to produce crude steel and on the other it is also promoting the use of environment friendly technologies.

“Today, India is emphasising on developing such production technologies which not only reduce carbon emissions but also capture and reuse carbon ”  said Modi.

He further informed that the circular economy is also being promoted in the country and the government and the private sector are working together in this direction.

“I am glad that the Hazira project of AMNS India group is also giving a lot of emphasis on the use of green technology”, the Prime Minister said.