Steel industry must aim for 'Plus One Per Cent Growth Rate': Chaudhary Birender Singh

"I want the steel industry to showcase a growth over the last financial year in 2017-18. In fact, it should be one per cent higher. I am asking you to better your best. Let our mission for 2017-18 be 'Plus One Per Cent Growth Rate," said Chaudhary Birender Singh, Minister for Steel, Government of India, while addressing the gathering of honchos from the steel industry at 'India Steel 2017' conference organised by FICCI in Mumbai.

The Minister said, "We increased exports by 102 per cent, let us increase exports by 103 per cent this year. We increased steel production by 9 per cent, let us take it to 10 per cent. We reduced imports by 36 per cent, let us try and reduce imports by 37 per cent. Steel consumption increased by 3 per cent, let us ensure that it reaches 4 per cent this year."

Chaudhary Birender Singh said, "I suggest that primary and secondary steel producers must come together to establish a 'Big-data Analytics & Application Centre for Steel' with the objective of pooling resources and information available with all steel companies and analyzing the collated data. This will help to promote usage of steel by statistically demonstrating the advantages of steel over other materials and also to explore new areas where steel can be used."

He added, "The findings and research then should be placed in the public domain so that there is no one-upmanship and issue of data ownership."

This will also help media, opinion leaders, architects and engineers access authentic and credible database. I am sure industry will consider it seriously, he said.

The Minister said that in a bid to boost domestic steel production and bring it technologically on a par with developed nations, the government has formulated the Draft National Steel Policy 2017.