ENA Sectors 2025-01-31 16:00:46 <p><span style="font-size:14px"><strong>New Delhi, Jan 31 (KNN)</strong> Steel Secretary Sandeep Poundrik emphasised the urgent need for India to expand its steel manufacturing capacity by 100 million tonnes (MT) by 2030 to maintain self-sufficiency and avoid import dependence.</span></p> <p><span style="font-size:14px">Speaking at an Indian Chamber of Commerce event in New Delhi, Poundrik outlined the challenges and priorities facing India's steel sector amid global market pressures.</span></p> <p><span style="font-size:14px">The nation's current steel capacity stands at approximately 200 MT, with a recent addition of 20 MT in the current financial year. This expansion aligns with the National Steel Policy 2017, which sets an ambitious target of achieving 300 MT manufacturing capacity by 2030.</span></p> <p><span style="font-size:14px">The secretary's comments underscore the strategic importance of meeting these targets to ensure India's industrial autonomy.</span></p> <p><span style="font-size:14px">Global market conditions pose significant challenges for the domestic steel industry, with major economies such as China, the United States, and Europe experiencing stagnating consumption and worldwide overcapacity.</span></p> <p><span style="font-size:14px">Poundrik stressed the importance of maintaining competitive domestic steel prices to ensure sufficient profit margins for industry players, enabling them to invest in capacity expansion.</span></p> <p><span style="font-size:14px">The transition to environmentally sustainable production methods emerged as another critical priority.</span></p> <p><span style="font-size:14px">Poundrik highlighted the necessity for India's steel industry to adopt green manufacturing processes, emphasising that leadership in the global steel sector will require a shift toward less carbon-intensive production methodologies.</span></p> <p><span style="font-size:14px">This environmental focus aligns with worldwide efforts to reduce industrial carbon emissions while maintaining economic competitiveness.</span></p> <p><em><strong><span style="font-size:14px">(KNN Bureau)</span></strong></em></p> 40860 https://knnindia.co.in/news/newsdetails/sectors/india-must-add-100-mt-steel-capacity-by-2030-to-stay-self-sufficient-steel-secretary 2025-01-31 16:00:46 knnindia.co.in