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Assured: Double steel exports in five years

Goal: US$200bn exports by 2030

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Goal: US$200bn exports by 2030

 

Ministers Goyal and Pradhan in a meeting with steel industry on 11 June 2019.

 

Commerce & Industry and Steel Ministers have assured the steel industry that all efforts will be made to double engineering goods exports in the next 5 years for achieving US$200 billion target by 2030.

This will not only boost India’s exports but will also generate jobs in the manufacturing sector especially the MSME sector, said Ministers Piyush Goal and Dharmendra Pradhan during meeting with the industry in New Delhi on 11 June 2019.

Although India is the second largest manufacturers of steel, it is still a net importer of steel products.

Industry challenges and global import-export trends were also discussed during the meeting.

Representatives of the steel industry and the Engineering Export Councils also discussed in detail with the Ministers the protectionist measures being imposed by other countries and the under-utilised capacity in steel manufacturing in India.

Both the Ministers assured of measures that both the Ministries may take, both tariff and non-tariff, to reduce unnecessary imports and boost exports.

Meanwhile, the MSMEs have urged steel producers to supply raw material at concessional prices so that final products from the sector can compete in international markets.

The meeting was attended by Piyush Goyal, Dharmendra Pradhan, Faggansingh Kulaste, MoS Steel, Secretary Steel, Binoy Kumar, Secretary Commerce, Anup Wadhawan, DGFT, Alok Vardhan Chaturvedi, senior officers of Department of Commerce and Steel Ministry, Chairman SAIL, all members of EEPCs, Indian Steel Association, steel makers and manufacturers and other associations of the steel sector (pic above). fiinews.com

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