India to be 2nd biggest largest steel manufacturer by 2016-end

The Dollar Business Bureau

India would become the world’s second biggest steel manufacturer by 2016-end, Steel Minister Birender Singh said.

China is currently the world’s largest steel manufacturing country, followed by Japan. It produces five times more steel than India.

"At present, about six lakh tonnes of steel is manufactured in old factories and private plants across India. Steel industry accounts for just two per cent share in the Gross Domestic Product (GDP) of the country and efforts are being made to increase it," he said.

He said the government is planning to set up a new steel manufacturing plant with one million tonne capacity, and the steel manufactured here will be exported.

Singh also emphasised the need to bridge education gap between the urban and the rural areas in order to curb corruption and provide better opportunities to the youth.

"The vision of a better India can only be realised after bridging the gap between the education facilities available in the rural and urban areas," he said.

The steel minister also emphasised the role played by Haryana Chief Minister Manohar Lal Khattar and Prime Minister Narendra Modi in eliminating corruption and introducing new programmes and schemes.

"The BJP Government has eliminated corruption in Haryana to a great extent. It recently declared merit-based result of the HCS examination which bears testimony to better and transparent policies pursued by the present state government," he said.