'India attains highest growth rate in Apr-Nov steel output'
Steel Minister Beni Prasad Verma Thursday congratulated the domestic steel industry on being the number one in terms of growth rate in production among top ten producing countries.
New Delhi: Steel Minister Beni Prasad Verma Thursday congratulated the domestic steel industry on being the number one in terms of growth rate in production among top ten producing countries.
"I take pride in announcing that the growth rate achieved by India is five times the world average growth rate of steel. I congratulate the industry stakeholders on achieving this feat and sustaining this remarkable growth," Verma said chairing a meeting here.
"During April - November 2012, the Indian steel industry achieved a growth rate of 5.36 percent which was the highest in the world," a statement said.
India had produced 51.47 MT of steel during the period as against 48.85 MT during the same period previous fiscal.
China stood third during the period with a growth rate of 3.36 percent while the world's average growth rate of steel was just 0.97 percent during April-November 2012, a Steel Ministry statement said.
China recorded an output of 476.93 MT during the period as compared to 461.44 MT a year-ago. The statement said that Turkey achieved second position achieving 4.07 percent growth rate during the period by recording an output of 24 MT.
Calling upon the industry to step up its performance Verma said, "Today, India is the 4th largest steel producer in the world. It is my dream to see India become the second largest in the world. All the main and major Public and Private sector steel plants must gear up to achieve this goal in the coming years."
Those present on the occasion were Steel Secretary D R S Chaudhary, Chairman, Steel Authority of India (SAIL) and senior officials from major public sector undertakings in the sector.