PM Modi says conducive environment for industries is being provided to make India a global hub of manufacturing

The Prime Minister Narendra Modi has said that through the installation of steel plant, not only investment is taking place but doors of many new possibilities are also opening. Addressing the gathering on the occasion of expansion of ArcelorMittal Nippon Steel plant at Hazira in Surat on Friday via video message. The Prime Minister said an investment of more than 60 thousand crores will create many employment opportunities for the youth of Gujarat and the country. Prime Minister said India is emerging as a global manufacturing hub and the government is committed to provide positive policy environment for the development of industries in the country.

Underlining the growing role of the steel industry in goals of moving towards a developed India by 2047, the Prime Minister said that a strong steel sector leads to a robust infrastructure sector. Similarly, the steel sector has a massive contribution in roads, railways, airport, ports, construction, automotive, capital goods, and engineering products.

The Prime Minister noted that along with the expansion, a totally new technology is coming to India which will be a huge help in the electric vehicle, automobile and other manufacturing sectors. He said this project of ArcelorMittal Nippon Steel India will prove to be a milestone in the vision of Make in India and will give new strength to our efforts for a developed India and self-reliant India in the steel sector.

He said due to everyone’s efforts in the last 8 years, the Indian steel industry has become the second largest steel producing industry in the world. There is immense potential for development in this industry”, he added.

The Prime Minister listed the measures to further promote the Indian steel industry. He said the PLI scheme has created new avenues of its growth. Giving the example of INS Vikrant, the Prime Minister informed that the country has gained expertise in high-grade steel whose use is increasing in critical strategic applications. The Prime Minister said that the scientists of DRDO developed the special steel used in the aircraft carrier. Indian companies produced thousands of metric tons of steel. And INS Vikrant was completely ready with indigenous capability and technology. To promote such capability, the country has now set a target of doubling the production capacity of crude steel. He said We currently produce 154 MT of crude steel. Our target is to achieve 300 MT production capacity in the next 9-10 years.

The Prime Minister added, “Today, India is emphasising on developing such production technologies which not only reduce carbon emissions but also capture and reuse carbon.

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