India exported 13.5 million tonnes of finished steel amounting to Rs 1 one lakh crore, says MoS Faggan Singh Kulaste

India exported 13.5 million tonnes of finished steel amounting to Rs 1 one lakh crore, says MoS Faggan Singh Kulaste

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Minister of State for Steel Faggan Singh Kulaste has said that India’s all-time steel high consumption at around 106 million tonnes and production of 120 million tonnes shows not only the resilience of the sector but also displays the exemplary grit and determination of Industries.

Addressing a conference in New Delhi today on the theme Indian Metals Industry, current Outlook, and future trends, Mr Kulaste said, the country exported 13.5 million tonnes of finished steel amounting to one lakh crore rupees. 

He said,  notwithstanding the challenges arising out of Covid-19, the Steel Sector both in terms of external trade as well as domestic steel production and consumption registered a  record performance. The Minister said, metals such as aluminum also witnessed robust growth in terms of production and export.

He said, Government is bringing in different policies to boost metal Industries. Mr Kulaste said, the focus of Narendra Modi Government is to lay major emphasis on the development of infrastructure across the country to achieve the vision of Aatmanirbhar Bharat. He said, logistics cost is a big challenge for industries.

The Minister said, Government has taken many important steps to reduce the logistic cost, such as NIP, Sagarmala Project, Dedicated Freight Corridor, PM Gati Shakti Master Plan for the development of the mining and metals sector.