Prime Minister Modi said that India is striving to become the world’s largest manufacturing hub. | So Good News

The prime minister said in his virtual address the “bhoomi pujan” of ArcelorMittal Nippon Steel India (AM/NS India) Hazira plant expansion is more than investment. ₹60,000 crore will create many employment opportunities for the youth of Gujarat and the country. After this expansion, the crude steel production capacity at Hazira Steel Plant will increase from 9 million tonnes to 15 million tonnes.

A strong steel sector leads to a strong infrastructure sector, he added. “The steel sector has a major contribution to roads, railways, airports, ports, construction, automobiles, capital goods and engineering products.”

With expansion, the electric car; Prime Minister Modi reiterated that new technologies are coming to India which will be of great help in automobile and other manufacturing sectors. “I am sure that this project will prove to be a milestone in the vision of Make in India. This will give new impetus to our efforts for a developed India and a self-reliant India in the steel sector.”

The Prime Minister said that the PLI scheme has created new avenues for its growth. “DRDO scientists have developed a special steel used in aircraft carriers. Indian companies produced thousands of metric tons of steel. INS Vikrant is fully equipped with indigenous capabilities and technologies. To boost this capacity, the country now aims to double its crude steel production capacity. We currently produce 154 MT of crude steel. Our target is to achieve a production capacity of 300 MT in the next 9-10 years.”

“On one hand, India is expanding its crude steel production capacity and on the other, promoting the use of environment-friendly technologies. India is focusing on developing manufacturing technologies that not only reduce carbon emissions but also capture and recycle carbon. Circular economy is also being promoted in the country and the government and the private sector are working together in this direction,” PM Modi said.