4th India Steel Summit

SteelGuru as official media partner is proud to present you the 4th India Steel Summit (Achievement & Unfinished Agenda) which is organized by ASSOCHAM at Hotel Le Meriden, New Delhi on August 11th 2010.

Indian steel industry has chartered recently a convincing growth path recording finished steel production level of over 60 MT in the year 2009-10. The success story of Indian steel industry is backed by all round excellent performance in terms of growth parameters and meeting fast and varying customer requirements in automobile, construction, capital goods and consumer durable segments. With ever increasing emphasis of the Government for infrastructure and inclusive growth, the steel Ministry has targeted 124 million tones a year domestic steel production capacity by the year 2012-13. With the projected growth of the economy and rising import dependence, investment in steel sector will flow only if Government provides a favorable regulatory environment in terms of fair and open land acquisition policies, environmental clearances, rehabilitation policies and quicker requisite approvals and mining lease. Steps are also being initiated for infusion of technologies that are capable of utilizing our non-coking coal reserves and iron ore fines, to bring down cost.

The year 2009 proved to be crucial in the way iron ore is priced. Traditional annual contracts are giving way to immensely volatile spot prices. Coking coal continue to be the main area of concern for the steel makers. With all the three major steel producers remaining dependent on external sources, substantially, the renegotiated prices of coking coal has shot up by more than fifty percent in recent time. In the backdrop of rising cost, steel consumption remains weak in developed economies. Back home the performance has remained robust mainly because of the strong and stable growth of the Indian economy. While the steel consuming sector including automobile and construction have shown good growth, the rural market remains a huge untapped potential for steel consumption. In view of the anticipated demand, though there are major activities relating to capacity addition in public sector steel plants, some of the private sector steel projects, both greenfield and brownfield are failing to take off the ground.

In the present context, ASSOCHAM with the support of Ministry of Steel, Government of India, is organizing the 4th India Steel Summit in New Delhi, which is a sequel to our earlier Steel Summits held in previous years. It is a part of an ongoing effort by ASSOCHAM to catalyze th
e developments of steel sector in the country.

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