Commerce Minister Piyush Goyal asks steel industry leaders to support small manufacturers
New Delhi, Nov 23 (KNN) Union Minister of Commerce and Industry, Piyush Goyal on Tuesday urged the captains of steel industry to sketch out a mechanism to support small manufacturers and ensure that withdrawal of export duties on steel do not hurt small manufacturers.
He also insisted them to continue supporting MSME Industry and exporters of engineering products.
Speaking at the 3rd edition of ISA Steel Conclave in New Delhi, the Commerce Minister asked the steel industry to make best use of the India-Australia Economic Cooperation & Trade Agreement (ECTA) Agreement and look at capturing new opportunities in Australia.
He informed the gathering that ECTA has been passed by the Australian Parliament.
Developed countries recognise that the Indian economy will drive world growth, he added. He highlighted that post agreement with Australia all our steel exports to Australia will become duty free.
He urged Industry to make best use of this Agreement and look at capturing new opportunities in Australia.
High Quality products like engines, valves made from Indian steel are testimony to quality steel that the steel industry is producing. He urged them to strive to develop Brand India and observed that the steel industry is the low hanging fruit in India’s integrated efforts to create global recognition of Indian products.
He opined that the steel industry has a significant growth potential and urged them to achieve the target of 300 million tonnes by 2030. (KNN Bureau)