Year End Review - 2014 of Ministry of Steel

Press Release ID: 114132
Date: Fri, 26 Dec 2014
Ministry: Ministry of Steel

 

 

TRENDS AND DEVELOPMENT IN STEEL SECTOR

 

Steel sector trends

 

India is currently the 4th largest producer of crude steel in the world as against its 8th position in 2003.

·         India continues to maintain its lead position as the world’s largest producer of Direct Reduced Iron (DRI) or Sponge Iron.

·         The steel sector contributes  nearly 2% of the country’s GDP and employs over 6 lakh people.

·         The per capita consumption of total finished steel in the country has risen from 51 kg in 2009-10 to about 60 kg in 2013-14.

 

 

Production and Consumption of Steel

 

·        Capacity for crude steel production expanded from about 75 million tonnes per annum (mtpa) in 2009-10 to about 101.02 mtpa in 2013-14.

·        Crude steel production grew at 7% annually (CAGR) from 65.84 million tonnes in 2009-10 to 81.69 million tonnes in 2013-14.

·        Production for sale of total finished steel (alloy + non-alloy) stood at 87.67 million tonnes during 2013-14, as against 60.62 million tonnes in 2009-10, an average annual (CAGR) growth of 9%.

·        Real consumption of total finished steel (alloy + non-alloy) has grown at a CAGR of 7.2% during the last five years.

·        Domestic real consumption of total finished steel (alloy + non-alloy) was at 74.09 million tonnes in 2013-14 and increased by 0.83% on a year-on-year basis.

·        Export of total finished steel (alloy + non-alloy) during 2013-14 stood at 5.98 million tonnes while import of total finished steel (alloy + non-alloy) during 2013-14 stood at 5.45 million tonnes.

·        India was a net exporter of total finished steel in 2013-14.

 

MAJOR INITIATIVES AND ACHIEVEMENTS

Ø  The Steel & Steel Products (Quality Control) Orders, 2012, have come into effect from 1st Oct 2014 on all 15 products having direct bearing on safety & security on human beings and infrastructure.

Ø  Expansion of two steel plants namely IISCO, Burnpur and Rourkela Steel Plant are ready to be dedicated to the nation, thus adding about 4.7 million tonnes of crude steel capacity.

Ø  Active engagement with Ministry of Mines, Coal and also Ministry of Environment and Forests has been undertaken for simplification of procedures.

Ø  Facilitated the formation of Indian Steel Association (ISA) to articulate the needs and aspirations of the steel sector of the country.

Ø  As a major step towards ensuring long term security in the supply of coking coal, ICVL has taken over the operating coal mine and coal assets of Rio Tinto in Mozambique.

 

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NSK

 

 

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