New Delhi: – Nitin Gadkari, Union Minister for Roads and Heavy Industries, appealed that Indian steel companies should acquire a big share in the global markets and lead the field. But, to achieve this, the companies will have to focus on improving quality and production. Gadkari was speaking during the webinar held on the subject Indian Steel Industry-Raw Materials, Technology and Markets in the New Normal Era.
The Indian economy is facing a crisis against the background of the Coronavirus pandemic. The Indian steel companies also have been hit by this. In view of this, Union Minister Nitin Gadkari pointed out that this is the opportune time for the Indian steel industry to increase its share in the global markets. Gadkari appealed to the steel manufacturing companies to look at the Coronavirus pandemic crisis as an opportunity created.
India is a fast-growing economy. The Union Minister said that this is the time for the Indian industries to have positivity and confidence. Indian steel industry should focus on increasing exports and reducing imports. The companies will have to enhance their capacities for this. Union Minister Gadkari said that if these companies incorporate the use of modern technology, they will attract foreign investors and the investments in the country will increase.
Investment of ₹15 trillion is planned for the National Highways Authority of India (NHAI) and development of infrastructural facilities. Gadkari pointed out that extensive work on roads and railway bridges is planned and there will be a huge requirement of steel in these projects.