The Business Bytes
TBB BUREAU
JAJPUR, APRIL 29, 2022
The domestic demand for stainless steel will grow more in the near future and the Indian manufacturers should augment their capabilities to supply the best-quality products, Union Steel Minister Ram Chandra Prasad Singh said on Friday.
Singh made the comment during a visit to the plant of the Jindal Stainless Limited (JSL) in Jajpur district, according to a statement issued by the conglomerate.
“The Indian stainless steel industry has a bright future. This metal is not only sustainable but also has tremendous health benefits,” the minister said.
“Domestic demand for stainless steel will grow more in the near future. Indian stainless steel manufacturers should augment their capabilities to supply best-quality products to domestic and international consumers in line with the vision of our Prime Minister,” he added.
Reiterating his Ministry’s support to the industry, Singh also emphasized on the need to transition towards green manufacturing, adding that young engineers would pave the way for the domestic industry to reach new heights.
Singh also acknowledged Jindal Stainless’ CSR initiatives and met the women self-help groups (SHGs) of nearby villages who are beneficiaries of Jindal Stainless’ CSR projects aimed at developing and supporting entrepreneurship among women.
JSL Managing Director Abhyuday Jindal said, “As market leaders, we are committed to nurture a self-sustaining ecosystem for the industry that empowers indigenous manufacturing and aids in achieving a circular economy.”
The senior management of JSL presented an overview of the stainless steel industry to the Minister and elaborated on the steps taken by the Company in various areas like new product development for increase in per capita consumption, skill and entrepreneurial development of the complete stainless steel ecosystem of the country including downstream MSME, and adoption of clean energy production methods and new-age technology for empowerment of the domestic stainless steel industry. The Minister took note of the steps taken up by the Company and emphasized on the need to transition towards green manufacturing.
Among others, Additional Secretary Rasika Chaube and other key senior officials of the Union Steel Ministry, and senior officials of JSL including Vijay Sharma, Deepak Agrawal, Rajesh Mohata and Shashibhushan Upadhyay were also present during the Union Minister’s visit to the JSL facility.
