‘Steel Backbone of Modern Economies and Success Stories’: PM Modi

Mumbai: Prime Minister Narendra Modi, addressing the India Steel 2025 programme via video message in Mumbai, emphasized the pivotal role of steel in shaping the modern world and India’s economy. In his address, the Prime Minister highlighted India’s achievements and set ambitious targets for the steel industry as the nation strides toward becoming a global leader in steel production.

India: The Second Largest Steel Producer Globally
The Prime Minister expressed immense pride in India’s position as the world’s second-largest steel producer, reflecting on the sector’s critical role in infrastructure, manufacturing, and technological advancements. He remarked, “Steel has played a skeleton-like role in modern economies, supporting everything from skyscrapers to high-speed rail, highways, and industrial corridors. It is the power behind every success story.”

A Vision for the Future: 300 Million Tonnes by 2030
PM Modi shared the government’s ambitious goal of producing 300 million tonnes of steel by 2030, under the National Steel Policy. He also underscored India’s increasing steel consumption, which currently stands at 98 kilograms per capita and is projected to reach 160 kilograms by 2030. This surge in consumption is poised to fuel the country’s growth, providing a strong foundation for both the economy and the infrastructure sector.

Focus on Domestic Steel for Strategic Projects
In a move towards self-reliance, the Prime Minister emphasized the goal of achieving “Zero Imports” and focusing on “Net Exports” for all infrastructure projects. He noted the significant contribution of India-made steel to strategic projects, including defense and space missions like the Chandrayaan success and the indigenous aircraft carrier.

PM Modi pointed out the importance of scaling up the production of high-grade steel, crucial for sectors like defense, machinery, and automotive. The government’s Production-Linked Incentive (PLI) scheme has already paved the way for an increase in the production of such high-grade steel.

National Infrastructure Pipeline and Gati Shakti Master Plan
The Prime Minister reiterated that the steel sector is poised for growth, thanks to the ongoing PM Gati Shakti National Master Plan, which integrates logistics, utilities, and transportation networks. He highlighted key projects in eastern India aimed at upgrading infrastructure for steel production and the $1.3 trillion National Infrastructure Pipeline, further amplifying demand for steel.

Boosting Global Competitiveness
Government policies, PM Modi added, are vital in positioning India’s steel industry as a globally competitive player. Initiatives like the National Manufacturing Mission aim to enhance India’s manufacturing capabilities, thereby strengthening the steel sector’s integration with other industries like construction and automotive.

The Prime Minister noted that the steel industry’s transformation is also supported by significant reforms in mining, making iron ore more readily available. These reforms have empowered the industry to meet domestic demands and prepare for future challenges.

Sustainable Growth and Technological Advancements
While the steel sector in India is on a growth trajectory, PM Modi stressed the importance of adopting sustainable, energy-efficient technologies. He emphasized that future advancements will depend on AI, automation, and recycling, alongside innovations like coal gasification, which can reduce dependence on coking coal imports.

Building a Global Steel Hub
Looking forward, PM Modi called for a collaborative effort between the private and public sectors to innovate, enhance research and development, and create new job opportunities. He also encouraged the development of steel production technologies that will position India as a global steel hub, capable of meeting rising demands domestically and internationally.

He concluded his address with a call for unity in building a resilient, revolutionary, and steel-strong India. With collective efforts and unwavering determination, PM Modi believes India will not only strengthen its steel industry but also emerge as a global leader in the sector by 2047, the centenary of India’s independence.

As India Steel 2025 continues to unfold, this vision aligns the steel sector with the country’s aspirations for a $5 trillion economy, setting the stage for groundbreaking advancements in both manufacturing and global trade.