The Indian steel industry is the fouth largest steel producer in the world and is poised to become the second largest producer in the coming years with the capacity expected to reach 300 million tonnes by 2025. The industry, however, faces various challenges on this course in terms of adequate growth, markets, raw materials and technology. The industry leaders have often felt the need of a forum where they can deliberate the issues of common concern.
Taking a step towards this, major steel producers of India came together and formally launched the Indian Steel Association in a meeting attended by industry leaders from SAIl, Tata Steel, JSW, RINl, JSPl, Essar in the presence of G Mohan Kumar, secretary, Ministry of Steel.
CS Verma, chairman, SAIl, was unanimously elected as the first president of the Indian Steel Association and Sajjan Jindal, chairman and managing director, JSW, TV Narendran, MD, Tata Steel, P Madhusudan, CMD, RINl, will be apex committee members.
Open to any steel producer with a yearly capacity of at least two million tonnes per annum, the Indian Steel Association aims to transform the steel industry.
It was a shot in the arm for the Indian steel association to receive recognition from World Steel Association during the meeting. A certificate to this effect was presented on behalf of chairman and board of directors of World Steel Association. Edwin Basson, director general, World Steel Association, was present during the meeting and he outlined the role and responsibilities of such an association in a competitive scenario.