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Tuesday, July, 5, 2022

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35 percent Capex Jump to Rs 7.5 Trillion Underscores Appetite for Infrastructure Steel

                            New Delhi, Delhi, India:
                         Railway key officials, engineering and design consultants, EPC contractors, join steel producers, steel technocrats, steel material scientists at the annual event being held on 23rd February 2022 in Delhi organised by FIRST Construction Council.As per the Economic Survey released by the finance ministry, the performance of the steel industry is pivotal to the growth of the economy. India's crude steel production increased 25 per cent year-on-year to 66.91 million tonne during April-October period of 2021-22 and during the period, the country's output of finished steel registered a year-on-year (y-o-y) growth of 28.9 per cent to 62.37 MT, while the consumption of the same grew 25 per cent to 57.39 MT.

Says Founder & President FIRST Construction Council, Pratap Padode, “The steel story for India has a long way to go as far as our per capita consumption goes which stands at 75 kgs versus the global average of 229 kg. The National Steel Policy, 2017 envisages ‘Atmanirbhar Bharat’ philosophy where the entire demand of steel and high-grade automotive steel, electrical steel, special steel and alloys would be met domestically. and aims at increasing the per capita consumption of steel to 160 kg by 2030-31. The Issuance of Steel and Steel Products Quality Control Order for compulsory BIS certification for 145 Iron and Steel Products, the inclusion of ‘specialty steel’ under the Production Linked Incentive (PLI) Scheme recently, the Steel Scrap Recycling Policy, 2019, and the Steel Import Monitoring System (SIMS), an online platform for advance registration of intended imports of steel are new developments on the path to strengthening steel.”

The countdown begins for the most prestigious event the 5th Edition of MAKE IN STEEL Conference and Awards to be held on 23rd February, 2022 at The Lalit, New Delhi. The unique and one-of-its-kind event has been conceptualized as a premier event for the structural steel industry. This event will bring together structural engineers, steel manufacturers and fabricators. The event is organised by FIRST Construction Council and

The 5th Edition of MAKE IN STEEL Conference and Awards with the theme “Gearing up for Sustainable Steel in India” is also scheduled to announce the winners of ‘MAKE in STEEL AWARDS’.  Awards are presented to the companies in two categories – Fastest Growing Steel Companies in Large & Small Category. Nominees for these awards include Jindal Steel & Power, JSW Steel, Tata Steel, MS Agarwal Foundries, Radha Smelters, Kirloskar Ferrous among others.


In 2022, two more categories have been added, viz;


The Jury members included –
Mr. Aditya Sharma, Director – Highways & Structures, Ramboll India
Mr. Ajay Hans, CEO, Welspun Enterprises
Mr. Amit Sharma, Managing Director & CEO, Tata Consulting Engineers
Mr. KK Pahuja, President, Indian stainless steel development association
Mr. KVB Reddy, Managing Director, L&T Metro Rail
Mr. Mahesh Mudda, NCCL   
Mr. Rajeev Sherry, Managing Director, Outokumpu India
Mr. YS Trivedi, Sr. VP & Member of Executive Committee, Head – Heavy Engg, Member of Board, L&T Special Steels & Heavy Forgings

With over 10,000 annual downloads of the TMT REBAR RESEARCH REPORT 2.O, the conference will see the launch of the latest edition of the report and a Steel Outlook Research Report 2022.

The FIRST Construction Council (FCC) is an infrastructure think tank, focused on providing the latest updates on the construction industry in India and dedicated to promoting its causes and needs. The Council provides a platform to promote the adoption of best practices and be the torchbearer for all policy initiatives that are needed to enhance the importance and welfare of the construction industry. FCC also seeks to become a prominent industry voice.

Disclaimer: This Press Release has not been vetted or endorsed by The Eastern Herald's editorial staff.

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