The Indian Government has said that India’s steel industry has come out of the stress, with the exports going up by 57 per cent and imports declining by 34 per cent. Commenting on the issue, Steel Minister Chaudhary Birender Singh told the media, “The country’s steel output is at around 120 million tonnes and the government is aiming to achieve 300 million tonnes by 2030.” “There was recession in global steel sector and it had an impact on India as well.
Our steel industry was in stress for more than three years. But the situation has changed in last six months,” he said. “In the last six months, steel output has gone up by 15 lakh tonnes and exports have shot up by 57 per cent while imports have down by 34 per cent,” he added. On modernisation of steel PSUs, the minister said more than Rs 61,500 crore has been invested for expansion and modernisation of SAIL.
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