SAIL to leverage domestic growth potential

World steel association forecasts 6.1 percent growth in steel consumption for India in 2017

GN Bureau | September 22, 2017


#Steel Authority of India   #SAIL   #PSU  

Steel authority of India (SAIL) chairman PK Singh expressed confidence on improving the performance of the Maharatna PSU in the current fiscal because of a host of initiatives in almost every area of operations.

During 45th annual general meeting of the company, Singh said the world steel association, in its short range outlook has a forecast of 6.1 percent growth in steel consumption for India in 2017. “SAIL with modern technologies at its disposal aims to leverage potential of growth in steel demand by operating at rated capacities, product differentiation and customer satisfaction. Since its inception, the SAIL has produced 475 million tonnes (MT) of crude steel and is involved in all major national projects requiring steel,” he said.

SAIL has done significant value addition in its product mix, with higher grades of steel from Rourkela Steel Plant’s new plate mill for the oil and gas sector, SAIL HT-600 product for the automotive sector and high strength LPG steel grade from Bokaro steel plant. Continuous product development efforts are being made with intensive research and development efforts especially from the new mills commissioned.

He further said India is poised to become the world's fifth largest economy in 2017, surpassing UK and France and the world's third largest economy by 2023, surpassing Japan and Germany. India’s GDP is projected to rise from USD 2.2 trillion in 2016 to USD 3.6 trillion by 2020. This augurs well for businesses that are focused on domestic growth in the future.
 

Comments

 

Other News

India set to bolster ties with Brazil during Bolsonaro`s visit

As India gears up to celebrate its 71st Republic Day on January 26, it will host Brazilian president Jair Bolsonaro as the chief guest of the event that marks the day when the country formally adopted the Constitution as the guiding document. This will be Bolsonaro’s maiden visit, which he would like

India gears up to meet Coronavirus challenge

With the outbreak of Coronavirus reported from China, India has started taking precautionary measures, and begun screening passengers of selected flights. “As of 21st January, a total of 43 flights and 9156 passengers have been screened for novel Coronavirus illness. Till now, no case

Reit: Real estate for retail

Every middle-class Indian dreams of a home coupled withlanded property to live off the rent. However, large initial investment, particularly inmetros, and low yields ensure that real estate is out of the reach of the common man. A return of 7-8 percent from commercial properties is considered highly commen

Maharashtra poll panel rolls out Electors Verification Programme

The Maharashtra State Election Commission has urged the residents to take advantage of the ongoing Electors Verification Programme (EVP) and register their names along with those of the members of their families in the electoral rolls. The drive, which started on November 11, 2019, will continue till Febru

Budget goes to print with Halwa ceremony

The budget season is here, and the annual document has gone to print, beginning the lock-in period till its presentation in parliament on February 1. The Halwa ceremony, marking the commencement of the budget printing process, was held in North Block Monday morning in the presence of finance

‘Desh Apnayen’ is a movement to partner with your country: Vallabh Bhansali

Investment banker, venture capitalist and stock-market expert Vallabh Bhansali is the co-founder and chairman of Enam Group, a pioneering equity research company in the country. He is a promoter of spiritual and cultural traditions and also an expert on development economics, behavioural science and co



Archives

Current Issue

Video

CM Nitish’s convoy attacked in Buxar

Opinion

Facebook    Twitter    Google Plus    Linkedin    Subscribe Newsletter

Twitter