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India Has Exported Record 13.5 MT Steel In 2022: Kulaste

Kulaste said that the per capita consumption of Steel in India grew by ten percent to 77 kg during financial year 2021-22

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Steel is one of the most important products of the modern world and is of strategic importance to any industrialised nation, said Minister of State for Steel and Rural Development, Faggan Singh Kulaste on Friday.

While addressing the conference organised on Indian Metal Industry: Current Outlook and Future Trends by ASSOCHAM Kulaste talked about the  consumption of steel in India continues to grow due to its multiple benefits in almost all walks of life. He also informed that in India, consumption of Steel in infrastructure and construction sector accounts for largest share over 65 per cent and the balance is accounted for by the sectors such as engineering, packaging and automotive which are also displaying admirable increase in steel application year after year.

Kulaste said that the per capita consumption of steel in India grew by ten percent to 77 kg during financial year 2021-22. India has exported a record 13.5 million tonnes of finished steel in the year 2021-22 with a record production of over 120 million tonnes of crude steel and 113.6 million tonnes of finished steel as per the provisional estimates.

He also said due to the huge availability of minerals in the country, metal sector can play a major role in the country's ambitious plans of self-reliant India and USD 5 trillion economy by 2024-25.


Tags assigned to this article:
steel production steel exports Faggan Singh Kulaste