India Should Increase Steel Exports To 6-7%: Minister
India should export 6-7 percent of its total steel production from the existing 1.5 percent, according to Union Steel Minister Chaudhary Birender Singh.
“There is no reason to be happy with 1.5 percent of exports. In the next few years, Indian steel exports should increase to 6-7 percent of the total production,” Singh said at an interactive session with a chamber of commerce.
The minister was speaking on the improving fortunes of steel makers, following protective measures by the government like the minimum import price and antidumping duty.
Singh said, with these steps, India has become a net exporter of steel, and imports had come down by 40-45 percent. India was lagging behind in research and innovation technology with regard to steel production, he said, adding, a Cabinet note will be moved soon for the proposed Steel Research and Technology Mission of India (SRTMI).
The steel ministry is planning to merge all its research bodies under the SRTMI. The government has said the initial corpus for setting up of this umbrella institute is ₹200 crore.
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