‘India Steel 2025’ to deliver roadmap on capitalising international market

New Delhi: The three-day ‘India Steel 2025’ has brought together various stakeholders to discuss the potential, challenges and opportunities in the Indian steel sector and the road-map to capitalise the international market, the Ministry of Steel said on Friday.

The inaugural session was addressed by Prime Minister Narendra Modi on Thursday through a video message, where he emphasised India’s strategic vision to enhance domestic steel production, reduce carbon emissions, and promote ‘Make in India’.

During the day, several important sessions were organised, according to the ministry.

At the session on ‘Viksit Bharat: Role of Steel Sector in Indian Economy’, a high-level panel comprising senior policymakers, economists, and industry leaders delved into the critical role of steel in realising India’s $5 trillion economy vision.

The ‘CEOs Round Table’ was chaired by Bhupathi Raju Srinivasa Varma, Minister of State for Ministry of Steel and Heavy Industries, discussing current challenges and growth for the Indian steel sector.

The ‘India–Russia Round Table’ served as a strategic platform for bilateral engagement between key stakeholders from both nations. The discussion centred on enhancing bilateral cooperation in the steel and mining sectors, fostering joint ventures, and exploring new avenues for technology transfer and trade facilitation.

The Day 2 of the ‘India Steel 2025’ is set to witness the presence of Piyush Goyal, Minister of Commerce and Industry; Dharmendra Pradhan, Minister of Education; Ashwini Vaishnaw, Minister of Railways and Electronics and IT; Pralhad Joshi, Minister of New and Renewable Energy; and Mohan Charan Majhi, Odisha Chief Minister.

On Day 1, PM Modi highlighted the need for a goal of “zero imports” and a focus on net exports for the steel sector as “India is currently working towards a target of exporting 25 million tons of steel and to increase production capacity to 500 million tons by 2047”.

PM Modi emphasised the importance of preparing the steel sector for new processes, grades, and scales, urging the industry to expand and upgrade with a future-ready mindset. “We are proud that today India has become the second largest steel producer in the world, and we have set a target of producing 300 million tonnes of steel by 2030 under the National Steel Policy,” he said.

—IANS