Centre sets 500 million tonnes domestic steel production by 2034 [Video]

The Centre on Thursday set the target of achieving 500 million tonnes of steel production by 2034, urging the industry to find new ways towards low emission, high productivity, high quality and the use of artificial intelligence (AI).

The country’s crude steel production shot up by over 35 million tonnes in the last four years, from 109.14 million tonnes in 2019-20 to 144.30 million tonnes in 2023-24, as per the latest government data last month.

Addressing the ‘ISA Steel Conclave’ in the national capital, Union Minister of Commerce and Industry, Piyush Goyal, said the industry leaders should focus their energy on economies of scale through decarbonisation, as “green steel will be in more demand”.

“This is India’s decade to show innovation, inclusion, collaboration and cooperation among different sectors of Indian industries to realise the vision of Viksit Bharat,” said the minister.

Hailing the steel industry for branding domestic steel as …