The Minister of Steel, Mr Beni Prasad Verma has said that production of finished steel for sale in the country has been consistently higher than the real consumption of steel.

As such, functioning of the Indian Steel Industry has been generally satisfactory. However, in some of the steel units which were installed decades ago, there is a need to adopt latest technologies for their up-gradation/ modernization so as to make them more efficient and viable.

Recently, new techno-economic benchmarks on international pattern have been evolved for improvement in performance of steel public sector enterprises and its implementation is monitored on a regular basis.

In a written reply in the Rajya Sabha he said, a roadmap for Research and Development for steel industry has been finalized and adopted with a special focus on beneficiation, coal ash reduction and promotion of production of high grade value added steel in the country. Steel making companies like SAIL and RINL both have launched massive expansion/modernization programs with a view to adopt modern technology which is energy efficient, cost effective and environment friendly. Similarly, majority of Indian Steel Industry in private sector has also shown keenness to adopt latest technologies to make existing steel manufacturing processes more efficient and productive.

Source - PIB

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