While the pandemic is still out there, Union minister Nitin Gadkari has warned the domestic steel players to target larger pie in global market with focus on quality products and competitiveness, the present crisis situation in the wake of COVID-19 should be converted into an opportunity. There is huge opportunity for us. It is time for Indian industry to create positivity and self-confidence and we will win the economic war. We are the fastest growing economy. International situation is supporting us, as per reports. He reportedly conveyed by upgrading technology in the sector, India could also attract huge foreign direct investment, thereby creating employment. The industry should focus on exports by increasing capacity and reduce dependence on imports.
To increase the use of steel, the National Highways Authority of India (NHAI) is using it in highways construction along with cement and the road ministry has set a target of building highways worth Rs 15 lakh crore in the next two years. The government plans to promote modular steel bridges, railway overbridges, etc and urged the industry to improve quality on par with European nations besides bringing cost down. According to sources, a proposal was also pending with Cabinet Secretariat for construction of ropeway, cable cars, etc in hilly terrains instead of highways. Gadkari reportedly conveyed that a few states/UTs like Himachal Pradesh, Uttarakhand and Kashmir are ready to give electricity for ten years for cable cars and ropeway, etc system and urged the steel players to tap the opportunity.