The Union Minister for Steel Beni Prasad Verma has said that steel producers need to adopt suitable technologies to produce special grades of steel at competitive prices.
He said this while delivering the inaugural address at the Steel Summit 2013 jointly organised by Ministry of Steel and CII here today. The theme for the Summit was Roadmap for Global Competitiveness: Opportunities and Challenges.
Speaking on the occasion the Minister of Steel pointed out that there is a huge potential for use of steel in the rural areas, where the ingress of steel has been limited. He also stressed on the need for adopting pelletisation technology for use of low grade ore. Speaking on the way forward the steel industry in India he said, “Every steel producer must make business more sustainable.”
Verma said that the Indian steel industry needs to invest more in Research and Development and enumerated the steps taken by the Ministry of Steel to incentivise steel production. He also added that transportation of raw material through alternate technologies like slurry pipelines could be a better solution for movement of inputs.
“Steel producers need to adopt suitable technologies to produce special grades of steel at competitive prices,” said Beni Prasad Verma while addressing the gathering at the Summit.