Piyush Goyal Sets 500 MN Tonnes Domestic Steel Production Target By 2034
Union Minister of Commerce and Industry, Shri Piyush Goyal, has set an ambitious target for India's steel industry, aiming to achieve 500 million tonnes of steel production by 2034. During his address, he highlighted the increasing importance of green steel and urged industry leaders to concentrate on achieving economies of scale through decarbonization, as the demand for environmentally friendly steel products continues to rise.
Minister Goyal emphasized the need for the industry to adopt innovative approaches that prioritize low emissions while maintaining high productivity and quality. He believes that these efforts will position India as a leading steel manufacturer on the global stage, making the country an irresistible destination for steel production.
Additionally, the Minister encouraged the steel industry to leverage artificial intelligence (AI) to optimize production processes, reduce waste, and enhance efficiency throughout the value chain. The integration of AI technology could be a game-changer for the industry, helping to meet the ambitious production targets while maintaining competitiveness.
Furthermore, Shri Goyal urged the industry to focus on integrating indigenous machinery into domestic production. By doing so, the industry can reduce reliance on imported equipment, promote self-reliance, and contribute to the growth of India's manufacturing sector.
