Steel industry key to India’s economic growth: HDK

Bengaluru: Union Minister of Heavy Industries and Steel, HD Kumaraswamy, emphasized the pivotal role of the steel industry in India’s economic growth, noting that the country is on track to become the 5th largest economy in the world. Speaking at the Metallurgist Award ceremony held on Thursday at GKVK, Bengaluru, Kumaraswamy stated, “India is currently the 6th largest economic power in the world, and we are racing to rise to the 5th position. The steel industry is playing a crucial role in this journey.”

Highlighting the significant contributions of the steel sector, he said, “As India strives to become a $5 trillion economy, the steel industry is at the heart of this transformation. The central government has always supported the growth of the sector, with initiatives like the National Steel Policy providing the necessary strength to the industry.”

The minister also pointed to several initiatives aimed at advancing the sector, including the promotion of specialty steel and green steel, as well as the implementation of the Production Linked Initiative (PLI). “The steel industry in India is emerging stronger, fulfilling the dream of Prime Minister Narendra Modi,” he added.

Kumaraswamy further emphasized the government’s commitment to sustainable and dynamic development within the steel sector. “We are working towards a specific agenda that includes a focus on research and development while aiming to reduce air pollution from steel production to zero by 2070. This target is achievable,” he said. The minister also mentioned the promotion of hydrogen-based steelmaking and steel reuse as part of India’s broader environmental objectives. At the ceremony, several individuals were recognized for their contributions to the steel industry. Sajjan Jindal, President of the Indian Metals Association, honored the minister during the event. Lifetime Achievement Awards were presented to Shashi Mohanty, CEO of SR Steel, and National Metallurgist Awards were given to Dr. T. P. D. Rajan, Dr. D. Satish Kumar, Dr. Sai Gautham Krishnan, and Biraj for their exceptional achievements in the field of steel.

Additionally, the Young Metallurgist Award was presented to Kumar Sahu for his outstanding work. Steel Authority of India (SAIL) Chairman Amarendu Prakash, Indian Institute of Metals Vice Chairman Prof. B.S. Murthy, Brigadier Arun Ganguly, and Director of the Institute Dr. Dheeren Panda were among the dignitaries in attendance.