IITF-2003 STEEL PAVILION WILL PROJECT
PROMOTION OF STEEL CONSUMPTION IN THE COUNTRY
Steel Ministry will
participate in a big way in the forthcoming India International
Trade Fair (IITF)-2003. The steel pavilion will showcase the products
and the numerous possible applications under the common banner
of 'Indian Steel', said the Minister for Steel Shri Braja Kishore
Tripathy while addressing the press today. He said that the pavilion
would project the efforts of the Government to promote consumption
of steel in the country. Steel Pavilion will highlight the various
non-conventional applications with the conventional ones, placed
against a historical backdrop. A laser show every hour on the
production and application of steel and several game shows focussing
on the younger generation will add to the attraction of the pavilion.
All the steel producers and Associations are participating in
the exhibition.
Shri Tripathy
said, in tune with the vision of the country becoming a developed
economy by 2020 AD, the Ministry of Steel is formulating a steel
policy with thrust on measures to increase consumption of steel.
The advantages associated with usage of steel are to be brought
to the notice of the common man. There is need to shed the false
perception of steel being a costly input and to emphasis the lower
life cycle cost and environmental friendliness of this universal
intermediate. The strength and longevity associated with steel
outweigh any marginal cost differential that may exist with other
competing materials.
He pointed out
that Indian steel sector has recorded an impressive growth during
the first half of this year and expects to maintain this upward
trend. Now India is the 9th largest steel producer
in the world. However, there is tremendous scope for increasing
the consumption of steel as per- capita consumption of 29 kg.in
the country is far below the world average of about 150 kg. and
average per capital consumption of 400 kg. in the developed countries.
The Minister
announced that the DGFT has accepted the recommendations of the
Ministry of Steel and issued a notification on October 18th,
2003, whereby steel items have been deleted from the classification
list of 2002-07. It is expected that this will help the consumers
to readily access their requirements of steel and help promote
consumption of steel in the country. It will also go a long way
in stabilising prices.
