November 27, 2019
Manish Gupta asks a Question on the problems facing the steel industry
FULL TRANSCRIPT
Will the Minister of STEEL be pleased to state:
(a) whether the steel industry in the country is heavily debt burdened, if so, the details thereof;
(b) whether rising raw material costs, power costs and global competition is slowing production and demand, if so, the measures being initiated by Government to obviate these difficulties;
(c) whether the targets for achieving a higher steel production capacity of around 300 million tonnes by 2030-31 is making progress, as the present capacity is less than 100 million tonnes; and
(d) if so, the details thereof?
FIRST SUPPLEMENTARY QUESTION
Sir, the problems affecting the steel majors have also now started affecting mid-sized firms. Inventory is high, days are extended and mid-level steel companies are now contemplating job cuts. Sir, the credit cuts and slowdown in the auto and real estate has also affected this industry since it depends on the broader economy.
SECOND SUPPLEMENTARY QUESTION
Sir, the research and development in the steel sector has to be done by utilising tripartite synergy. Among industry both, private and public, natural R&D laboratories and academic institutions. How has the steel research and technology mission of India been able to sphere head these efforts?
