India must produce over 100 mt steel by 2020: Tata Steel
Kolkata, Aug 11: With the metal industry showing promises of propelling India on the path of economic growth, the country must aim to enhance its steel production to over 100 million tonne by 2020, Tata Steel Managing Director B Muthuraman said here on Friday.
"We are in a position to produce over 100 million tonne steel and we must do it. If China can produce nearly 300 mt of steel every year, why can't India?" Muthuramam, who took over as president of the Indian Institute of Metals, told reporters here.
He said there would be roadblocks and problems, but these were common in other countries. Even China that produced about 300 mt of steel, faced it, he said, adding per capita steel consumption in India should be increased from the present level of 30 kg.
He said globally world crude steel production has reached 1132 mt in 2005 with an average annual growth rate of six per cent over the last five years.
With hectic activity in all round development of infrastructure projects including roads, ports, airports, railways, housing etc, India should sustain consistent overall growth rate of about nine per cent, he said.
Muthuraman said Aluminium was the second most important metal in the developing economy and India with its vast resource of bauxite, was poised for substantial growth.
Aluminium smelting capacity currently at one million tonne, would reach a level of two million tonne in next five years.
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