[Ferro-Alloys.com] Indian steel industry is facing some challenges, according to Union Steel Minister Dharmendra Pradhan. The minister also noted that the global steel industry is facing the challenge of surplus production.
According to official data, share of imports of finished steel from FTA countries such as Korea, Japan and Indonesia aggregated around 70 per cent of total imports to India in August 2019.
Earlier, speaking at the conference, the minister also said that India will become top energy consumer in the world in the next two decades.
Speaking about the areas of energy consumption, Pradhan said, "It will be consumed in transportation, household electrification, but primary consumption will come from industry. Industries related to manufacturing, industries related to services, related housing, capital good product etc". (The Economic Times)