The Prime Minister along with a slew of union ministers recently spoke at the 6th edition of India Steel, a biennial International Exhibition-cum Conference on the steel sector held recently in Mumbai.

Addressing the inaugural session via video message Prime Minister of India Mr Narendra Modi greatly emphasised the role of the steel industry in playing a paramount role in the country’s overall economic development.

“The role of steel in all developed economies has been like a skeleton. Be it sky-scarpers, high- ways, high speed trains, smart cities, industrial corridors every success story is backed by the strength of steel,” Prime Minister said.

He further stated that the country was taking steps to become a USD 5 trillion economy. “The steel industry will play a crucial role in achieving this target.

We are proud that India is now the second biggest steel producer in the world,” he added. Similarly, Mr Bhupathi Raju Srinivasa Varma, Minister of State, Ministry of Steel said that the Steel industry is a pivotal pillar of India’s economic expansion, contributing nearly 2% of GDP.

He observed that every investment in steel fuels a ripple effect across allied industries, strengthening our economic foundation and manufacturing excellence.

Union Minister of Coal and Mines, Mr G. Kishan Reddy, emphasized that if steel forms the backbone of India’s economy, the coal and mining sector represents the strong foun- dation on which it rests.

He highlighted the impor- tance of raw material security, especially in the context of the current session on Raw Material Strategy and the Shift in Raw Material Mix.

India recently achieved a landmark milestone of 1 BT of coal production and dispatch in the last financial year—a transformative step toward national energy security.