The Union Commerce Minister Piyush Goyal on Tuesday said, India is moving towards massive investments in infrastructure to meet the aspirations of its growing population.
While addressing the fourth edition of ‘ISA Steel Conclave 2023’ he said, the steel industry in India currently employs approximately two million people, making a substantial contribution to the national GDP. The steel industry can significantly enhance self-reliance as India strives to meet the increasing demands of the sector.
He added, the industry’s growth and performance have been remarkable in recent years.
The minister noted that India aspires to transform from being a net importer of steel to a net exporter, supporting its “One Earth, One Family, One Future” theme.
The Production-Linked Incentive (PLI) for specialty steel is one of the steps taken in this direction, promoting the manufacturing of high-quality steel and bolstering India’s position in the international market. He recalled pioneering initiatives like steel slag road technology, emphasizing the efficient utilization of waste stream slag in road and highway construction. This practice aligns with the principles of the circular economy.