The Steel industry in India is projected to reach $28 billion by 2030. Global steel plant equipment makers are keen to tap into these opportunities. They aim to form joint ventures talks with domestic manufacturers to increase domestic manufacturing capabilities.
The Steel Ministry of India is promoting these talks by organising a conference on October 23rd. The event will be held at Bhubneshwar, Orissa. Transforming India into a hub for steel plant equipment manufacturing is an agenda of the government with the avatar of ‘Make in India’.
The agenda aligns with the government’s National Steel Policy, 2017. The policy envisions the creation of 300 million tonnes of steel in the country by 2030-31. The policy has an outlay of $128 billion for primary and secondary steel sectors.