Prime Minister Narendra Modi shared his thoughts via video message during the India Steel HR 2025 event held in Mumbai on Thursday, 24th April. Addressing the gathering, the Prime Minister said that the prospects and opportunities of India’s emerging sector—the steel industry—will be deliberated upon in the coming two days. He said that the sector is the foundation of India’s progress, strengthens the base of a developed India, and is writing a new chapter of transformation in the country. The Prime Minister welcomed everyone to India Steel 2025 and expressed confidence that the event will act as a launchpad for sharing new ideas, building new partnerships, and promoting innovation. The event will lay the foundation for a new chapter in the steel sector.
“Steel has played a vital role as the framework for modern economies”, the Prime Minister said, adding that whether it is skyscrapers, shipping, highways, high-speed rail, smart cities, or industrial corridors—steel is the power behind every success story. India is moving towards the goal of becoming a $5 trillion economy, and the steel sector is playing a key role in this mission.
The Prime Minister said that under the PM Gati Shakti National Master Plan, the steel industry is filled with new confidence about its future. Through this initiative, various utility services and logistics modes are being connected. Mine areas and steel units are being mapped for better multi-modal connectivity. Giving information about new projects to upgrade the infrastructure of the steel sector in eastern India, given its dense presence there, PM Modi said that the $1.3 trillion National Infrastructure Pipeline is also being taken forward at a fast pace.
The unprecedented pace of transforming cities into smart cities, the construction of roads, railways, airports, ports, and pipelines, is creating new opportunities for the steel sector. The construction of crores of houses under the Pradhan Mantri Awas Yojana and the development of infrastructure in villages through the Jal Jeevan Mission are also giving new strength to the steel industry. The Prime Minister underlined the government’s policy of using only ‘Made in India’ steel and said that steel is consumed the most in government projects.
Made-in-India, First indigenous aircraft carrier made of steel, Chandrayaan
Earlier, India was dependent on imports for high-quality steel, which was required for defense and strategic sectors, but now the country’s first indigenous aircraft carrier has been built from steel manufactured in India, and the contribution of steel has also been seen in missions like Chandrayaan. He said that this change has been possible due to efforts like the PLI scheme, in which assistance of thousands of crores of rupees has been given. He said that the demand for high-quality steel is constantly increasing due to mega-projects in the country. He informed that shipbuilding has been included in infrastructure in this year’s budget, and India aims to build modern ships in the country and export them to other countries.
He also mentioned the growing demand for pipeline grade steel and corrosion-resistant alloys. With the rapid expansion of rail infrastructure, the Prime Minister stressed the need to aim for “zero imports” and focus on net exports. He said India aims to have a production capacity of 500 million tonnes and export of 25 million tonnes of steel by 2047.
What are the challenges of the steel sector?
Expressing concern over the impact of coking coal imports, he stressed the need for alternative measures. He suggested promoting technologies like the DRI route and better utilization of the country’s coal resources through coal gasification. He appealed to all stakeholders for active participation in this direction.
On the issue of utilisation of greenfield mines , the Prime Minister said that in the last decade, there have been many reforms in the mining sector, which have made the availability of iron ore easier. He said that now the time has come to ensure that the allotted mines are utilised effectively so that the country’s resources can be fully utilized. He warned that any delay in this could harm the industry.
The Prime Minister emphasized that India is no longer focused on domestic growth but is moving towards global leadership. He said that the world is now looking at India as a reliable and high-quality steel supplier. He emphasized the need to maintain world-class quality and continuously upgrade capabilities. He said that improving logistics, developing multi-modal transport networks, and reducing costs can make India a global steel hub.