Ms. Sminu Jindal, Chairperson, ASSOCHAM National Council on Iron & Steel and MD, Jindal SAW Ltd hosted ASSOCHAM’s 6th India Steel Summit today at The Lalit hotel to facilitate faster growth in steel sector in India.
Various eminent personalities like Shri Shri Rajkumar Dhoot, MP, President, ASSOCHAM, Shri A.P. Choudhary, Co-Chairman ASSOCHAM National Council on Iron & Steel and CMD Rashtriya Ispat Nigam Ltd, Shri Sajjan Jindal, Chairman & MD, JSW Steel Limited, Shri Vishwapati Trivedi, Secretary, Ministry of Mines were present at the occasion.
This year the 6th India Steel Summit was organized with a motive to facilitate faster growth of steel industry in India and the emerging trends in Indian steel market, demand projection and ensuring faster capacity augmentation etc were discussed during the summit.
Speaking on the occasion Ms. Sminu Jindal, Chairperson, ASSOCHAM National Council on Iron & Steel and MD, Jindal SAW Ltd said “As per information from Worldsteel Association, over the last 4 years i.e. from 2008 to 2011, Korea’s steel capacity has increased from 60 million tons to 80 million tones and production from 54 million tons to 68 million tones. However, domestic demand has remained more or less stagnant at around 56 million tones, thus transforming Korea from net importer to steel surplus economy. I would also like to thank Assocham for providing a critical platform where all stake holders come together to take the way forward”.
Alongside discussing the issues like inflationary pressure, exchange rate volatility and decelerating economic growth it was also highlighted that steel industry should introduce resource and process optimization programmes to make their businesses sustainable. Through such initiatives it is believed that the steel sector can achieve significant growth and can contribute to national development and prosperity.
source: Equity Bulls