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Per capita steel consumption still low, worrisome: Official

PTI | Updated on: 14 Nov 2018, 06:12:45 PM
Per capita steel consumption still low, worrisome: Official (Representational Image- Twitter)


India’s per capita steel consumption remains “extremely low” and is a cause for concern to the government, even as the country is on course to achieve the ambitious 300 million tonne output by 2030-31, a top official of the steel ministry said on Wednesday.

As per the latest Joint Plant Committee (JPC) report India’s per capita consumption of steel stands at 69 kg way below the global average of about 214 kg, Steel Secretary Binoy Kumar said here.

“The per capita consumption (of steel) is extremely low and it has been a historical issue. The aim is to take the figure to somewhere around 160 kg by 2030 and the government has been taking initiatives towards this target,” he said.

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The union cabinet had last year approved the National Steel Policy 2017 that envisages Rs 10 lakh crore investment to take capacity to 300 mt by 2030-31.

Kumar was speaking at the 56th National Metallurgists’ Day, jointly organised by the Indian Institute of Metals and Tata Steel.

The senior steel ministry official said the government has taken certain policy initiatives like life-cycle costing of steel, which strives to make its usage more cost-friendly and competitive.

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“We also came up with the policy for preference to domestically manufactured iron and steel products. Due to this initiative, the government has been able to save over Rs 8,000 crore on import bill of steel in the last one-and-a-half years alone,” Kumar said.

He said that in the last four years, steel production increased by about 35 mt and its per capita consumption rose by 10 kg.

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First Published : 14 Nov 2018, 06:12:19 PM