New Delhi, Nov 4 (Inditop.com) India needs to double its steel production from the current 55 million tonnes in five years if it wants to bridge the demand-supply gap, Minister of State for Steel Prathap Annayyagari said here Wednesday.
“During the last five years, the growth in the demand for steel has averaged to around 10 percent. To meet this growing demand, the steel sector has to double its production in the next five years,” Annayyagari said at a seminar organised by the Confederation of Indian Industry (CII) here.
The country has to further increase the steel output to 200 million tonnes by 2020, he added.
The difference between current per capita consumption of steel of 47 kg and the world average of 190 kg could be bridged if the rural demand was met, the minister said.
Speaking at the conference, Steel Authority of India Ltd (SAIL) chairman S.K. Roongta outlined various problems like land acquisition, availability of water and other raw material, besides forest and environmental clearances and urged for immediate solution.
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