India’s mineral & metal sector set for robust growth, Scindia

Steel Minister Jyotiraditya Scindia on Friday said that the production capacity of Steel has increased by 50 percent to 155 million tonnes per annum in the last eight years. Scindia while inaugurating International Conference on Resource Efficiency and Circular Economy in the Mineral and Metal Sector in New Delhi said, the country which was a net importer a decade ago has today transformed itself to become a net exporter. Scindia said, revolutionary changes have brought in the Mineral and metal sectors and now India has become 2nd largest steel producer in the world. Scindia added that metal industry is highly energy intensive industry and thus cause large carbon emission, which is a major challenge for the global community thus we have to adapt new technologies to achieve the goal of zero carbon emission. We all agree that in today’s technological dominated world, nothing is waste and all so-called wastes can be converted into resources for wealth creation by adoption of suitable technology, the Minister stated.

The Minister said, the Government has taken timely initiative through NITI Aayog by forming 11 committees to promote Circular Economy in various sectors including Metals sector covering Ferrous and non-Ferrous metals. Scindia apprised that Ministry of Steel is working as a nodal agency and has already prepared a detailed roadmap for promoting circular economy in Metals sector covering all facets of production from mining to finished metal production and their recycling / reuse. Chairman, SAIL, Ms Soma Mondal said that research suggests green house gas emissions in the atmosphere can only be decreased by approximately 50% through Carbon reducing operational efficiencies and widescale implementation of renewable energy solutions. The remaining 50% must come from the transformation in how we produce and consume resources.