Prime Minister Narendra Modi has said raw material security remains a major concern in the steel sector.“We must find alternatives to imported coal and accelerate greenfield mining projects. We have to efficiently use alloyed mines,” he said while addressing the India Steel 2025 event via video conference on Thursday, April 24.
The Prime Minister hailed the Indian steel industry as a key driver of the country’s economic aspirations. He reaffirmed India’s commitment to strengthening the sector and making it a global leader.
“Steel is the skeleton of global development,” the Prime Minister said. “Behind every success story, there’s steel.”Asserting that the steel industry is central to India’s ambition of becoming a $5 trillion economy, PM Modi outlined a sweeping vision where steel would play a pivotal role in national growth—from infrastructure to automobiles, defence to railways. “India is not only the largest producer of steel but also one of the fastest-growing markets,” he said.Highlighting the government’s $1.3 trillion National Infrastructure Pipeline (NIP), the Prime Minister said the massive developmental push is creating “strong, consistent” demand for steel across sectors. “Our infrastructure, automotive, and defence sectors are increasingly powered by Indian-made steel,” he noted, sharing that domestically produced steel was used in the country’s first captive aircraft.PM Modi outlined ambitious goals for the sector, including achieving 500 million tonnes of steel production by 2047 and targeting 25 million tonnes of exports. “We want to manufacture advanced and large ships in India, which can also be exported to the world,” he added, citing the rapid growth in India’s rail infrastructure as another key driver.The Prime Minister also pointed to the rising demand for high-grade steel and called for the industry to innovate and adapt. “Public and private sectors must come together in R&D and manufacturing,” he said.
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