08 Jul , 2022 By : Monika Singh
Immediately after taking charge, newly-appointed steel minister Jyotiraditya Scindia held a marathon six-hour long meeting with all public sector units under the administrative control of the ministry, including SAIL, NMDC and RINL, and assured them of greater autonomy and “no inference” from the ministry in their internal affairs.
Sources present in the meeting said the minister, who is holding the charge of the steel ministry in addition to his existing portfolio of civil aviation, has also shared his mobile number with the company CEOs and asked them to contact him, if required, over phone, without frequenting to the Udyog Bhavan that houses the ministry of steel.
Scindia, who holds a bachelor’s degree in Economics from Harvard University and an MBA from Stanford University, pointed out the problem areas of the respective companies that require rectification, a source said.
He also asked the PSUs to step up their efforts to boost production and make steel a vibrant sector that plays a vital role in nation-building.
“The aim is to take the sector to its highest potential, so that it becomes a strong engine of growth in the Aatmanirbhar Bharat vision,” Scindia said after taking charge.
India produced 114 million tonne (mt) of finished steel in 2021-22, clocking a growth of 18% over the previous year. Of this, six major producers –- JSW Steel, Tata Steel, SAIL, JSPL, AM/NS and RINL –- had around 57% share. The rest was produced by secondary sector players. It consumed 105 mt finished steel last fiscal.
India, the second largest producer of steel in the world after China, has around 150 million tonne of crude steel-making capacity. The government aims to take it to 300 mt by 2030-31. India produced 120 mt of crude steel in FY22.
A net exporter of steel, India exported 13.5 mt in FY22, an increase of 25% over the previous year, and imported around 4.6 mt.
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