Ministry of Steel Current Affairs - 2020

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GoI to launch Purvodaya to accelerate Eastern India Development

On January 10, 2020, the Ministry of Steel announced that it will launch “Purvodaya”, a world class steel hub. The hub aims at an accelerated development programme of eastern states. The Ministry will be joined by CII (Confederation of India Industries) in the implementation of “Purvodaya”.

Highlights

The initiative aims at developing the eastern states through an integrated steel hub. The steel hub will create 2.5 million jobs in the region. It will create world-class logistics and infrastructure. This will also help in achieving India’s steel policy target of 300 MT by 2030.

The Steel Hub

The Steel Hub will develop steel clusters in the region. It will transfer the utilities and logistics infrastructure into socio-economic landscape. So far, 12 major steel zone has been identified under the initiative in the region.

Why Eastern States?

The 5 Eastern states namely West Bengal, Chhattisgarh, Jharkhand, Odisha and Northern Andhra Pradesh are extremely rich in coking coal, bauxite and dolomite reserves. The region also has major ports such as Haldia, Paradip, Kolkata and Vizag. Therefore, setting up a steel hub in the region will help India achieve its 5 trillion-dollar economy target fast.

The region also has potential to add 75% of country’s incremental steel capacity.

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CII organizes “Steeling India-2019”

On December 16, 2019, the Confederation of Indian Industry organized “Steeling India 2019” conference, a drive to increase metal intensity in key sectors. Union Minister for Steel, Petroleum and Natural Gas Shri Dharmendra Pradhan participated in the conference.

Highlights

The session focused on key industries namely automobile, infrastructure, railway, water, irrigation and housing. It discussed the strategies to promote steel intensive structures and to augment steel consumption. Steel producers, consumers and policy advisors attended the conference. The conference developed a road map to increase steel intensity in key sectors. It also brought in strategies to mitigate supply chain issues in the steel sector.

Significance

CII organized the conference with the objective of augmenting steel production. The conference will help India pave ways to achieve its target of 300 MT of production by 2030 (according to National Steel Policy). The World Steel Association predicts steel demand in India to reach 103 MT (Million Tonnes) in 2019.

Experts believe that in coming days, rural market is to play a crucial role in steel sector. This is mainly because demand for fast-moving consumer goods like two-wheelers, mobile phones, etc. in rural markets are increasing at faster rate.

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