Piyush Goyal urged the industry to invest in R&D to minimize the cost of prefabricated steel structures. | Photo credit: Leon Kuegeler
Odisha points to more than tripling its steel capacity to 130 million tons (MT) of 41 million current tons and emerges among the five main industrialized states by attracting new investments in posterior steel processing units.
The state government undertakes to ensure raw materials, provide land, guarantee connectivity through roads, rail and provide electricity and water to meet the specific needs of industries that operate in this vital sector, said Mohan Charan Majh, CM or Odisha.
“We are in the process of auctioning another eight main mineral blocks, with a combined resource of 323 million tons. In addition, we plan to auction 22 more blockages for March 2026,” India Steel 2025 “in Mumbaian said at the conference.
Odisha leads India in terms of the estimated value of all mineral production, contributing to 47 percent of national production.
By 2030-31, the consumption of iron ore from India is expected to grow at 340 TM. In this period, Odisha is about to contribute between 240 and 245 mt of iron ore, thus raising the state participation of the current 58 percent to the printing of 70 percent, he added.
The contribution of Odisha or 178 mt or iron mineral, 3.18 TM or chromita, and 269 mt or coal the last prosecutor. There are 54 steel plants integrated in Odisha with a total installed capacity of approximately 41 TM per year.
Support the national supply chain
Meanwhile, Unión’s Minister of Commerce, Piyush Goyal’s disagreement with the objective of the industry to achieve 300 million tons of production capacity by 2047 and urged him to aim at the rapid growth economy of 500 MTPA GIVRY.
Goyal urged the industry to invest in R&D to minimize the cost of prefabricated steel structures. They argued that the benefits, such as the fastest construction and reduced pollution, could make the highest initial costs in the long term, he said.
The government is negotiating free trade agreements with several countries, including the European Union, which includes 27 nations. These agreements are crucial to expand India’s access to international markets, particularly for their profitable and high quality steel products, he said.
Goyal emphasized the need for India’s steel industry to concentrate on sustainability in the value chain, from raw materials to manufacturing. At the same time, he, while pursuing the high standards, the industry must ensure that it remains competitive in costs, with the greatest efficiency and the lowest costs.
He emphasized the importance of supporting local manufacturers, particularly for teams that are not yet manufactured in India. There are vulnerabilities that arise when a country depends too much on global supply chains. He pointed out that supply chains can face salt salsa interruptions, such as shipping problems, increases in load costs or crisis such as oil scarcity, which can endanger industries that depend on imported goods.
Goyal made a direct appeal to the steel industry, since he prioritized them to prioritize Indian suppliers and reduce the tendency to import when there are local alternatives. This, he said, would support national companies and strengthen the local manufacturing ecosystem. He stressed that countries around the world, including advanced nations, focus more and more on Atmanirb Bharat (self -sufficiency), and many restore their manufacturing processes to build more resistant economies, he said.
Posted on April 25, 2025
