Mehta wants a strategy for critical minerals and rare earth security
The Government has established itself as a forward-thinking collaborator with businesses to create India’s new economic growth narrative, Steel Minister Jyotiraditya M. Scindia has told an industry gathering.
“We should focus on new Technologies and Innovation. To make the industry sustainable and align with India’s net zero targets, we need to gradually move towards decarbonisation of the sector,” he said.
“Steel usage in India has increased from 57.8 kg in 2013–14 to 77 kg in 2022 and is predicted to reach 220 kg by 2047,” he said at the two-day conference ‘Indian Minerals & Metals Industry: Transition Towards 2030 & Vision 2047’, organized in New Delhi by NMDC in association with FICCI.
Meanwhile, Sumit Deb, Chairman–Cum-Managing Director, NMDC Ltd, added that his group reverberates with the vision of National Steel policy as it aims to augment annual production capacity of iron-ore to 67 million tons by 2025 and 100 million tons by 2030.
Sanjiv Mehta, President, FICCI, added, “It is vital for our country to create a strategy for critical minerals and rare earth security.
“Reducing the supply chain and logistics cost by improving the infrastructure and enhancing efficiencies in the entire value chain would be essential to make our industries globally competitive,” he added.
Leading industrialists, policy makers, world renowned associations from the steel, minerals and mining industry took part in the conference. fiinews.com
