NewsVoir
New Delhi [India], August 28: Metalogic PMS successfully hosted its 8th Annual Conference today at Le Meridien, New Delhi, bringing together industry stalwarts, policymakers, and key stakeholders to deliberate on the theme 'Make in Steel, Make in Bharat'. The event focused on the pivotal role of steel in fuelling India's economic growth and strengthening its position as a global manufacturing hub.
Steel plays a vital role in construction, infrastructure, automotive, and defence, together accounting for over 90% of India's steel consumption. As these sectors are rapidly evolving, demanding advanced grades of steel, innovation in steelmaking is becoming crucial to enabling this transformation. The demand from the smaller and emerging sectors requiring smaller or specific order quantities has added a new market dimension for the steel industry. Steel as a commodity is now emerging as a "just in time" product. Apart from the opportunities in steel making, the conference also deliberated on the cost concerns of the steel makers, geo-political trade distortions, raw material availability matters and practical ways to further enhance steel consumption.
The event was graced by the esteemed presence of prominent industry leaders - Mr. Abhyuday Jindal, Managing Director, Jindal Stainless; Ms. Sminu Jindal, Managing Director, Jindal SAW Ltd.; Mr. Vinod Gupta, ED Commercial, SAIL; Mr. V.R. Sharma, Vice Chairman of Naveen Jindal Group; and Ms. Preiti Patel, Chief Strategy & Growth Officer, TATA Projects.
While addressing the conference Managing Director, Jindal Stainless, Abhyuday Jindal, said, "The future of our industry will continue to be defined by two uncompromising pillars--quality and sustainability-led growth. We must prioritise quality and mainstream sustainable solutions to build infrastructure that is stronger, safer, and lasts longer. The journey will continue to demand collaboration across the value chain, so that the entire ecosystem works towards this common goal."
Ms. Sminu Jindal, MD, Jindal SAW, and Founder-Chairperson of Svayam highlighted, "To make India more self-reliant, it will be extremely important for us to invest in steel and different loads of steel to be made in India, so that we are less dependent on its import. Equipment is currently very low; despite this equipment manufacturers exist in India who actually do a very good quality job. Quality brings me to the cruciality of sustainability."
She further concluded by stating that, "India is at a threshold where it's talking about making the best of steel, yet doing it sustainably is a double challenge that we all have to accept. Steel is strength, steel is stability and steel is the spirit of self-reliance in India. So, let's take a pledge to make in steel and make in India".
India's crude steel output hit 55 million tons mark in just 4 months of this fiscal year 2025-26 (Apr-Jul), registering annual growth of 10.7% while finished steel output hit 51.4 million tons mark registering 8.5% hike on y-o-y basis.
Monica Bachchan Duvvuri, Founder & CEO of Metalogic PMS mentioned, "Steel is backbone of key consuming sectors including construction, infrastructure, automotive, defence etc. Our mission is to bring the industry together and address challenges, spark new ideas and encourage consumption."
India's steel sector, under the National Steel Policy (NSP), has set an ambitious target of enhancing production capacity to 300 million tonnes and raising domestic per capita steel consumption to 160 kg per person by 2030. Further it is being anticipated that the production capacity would touch 400 million tons by 2035 requiring over 550 million tons of iron ore. According to Metalogic PMS, in FY25 the per capita consumption of steel stands at ~108 kg per person, highlighting the significant growth potential that lies ahead when the same figures would cross 200 kg per person.
Metalogic PMS is a leading market intelligence firm and a prominent industry conference platform for the industry.
(ADVERTORIAL DISCLAIMER: The above press release has been provided by NewsVoir. ANI will not be responsible in any way for the content of the same)
