- India overtakes Japan to become the second largest producer in the world; ISA to discourse industry’s Vision 2020
- ISA brings stakeholders for resolution process to take shape, leading to consolidation in the Industry
- First edition organised by ISA in association with Messe Frankfurt as event partner
New Delhi : The first International Steel Conclave, hostedby Indian Steel Association and Messe Frankfurt India will be underway this week, from 25 – 26 October 2018. Hosting over 200 high-profile delegates and speakers from the government, businesses and associations, the platform will bring the industry together for two days of discussions, deliberations and interactions between the key stakeholders that will challenge industry growth outlook.
The high-profileconference supported by the Ministry of Steel will be inaugurated and addressed by Shri Chaudhary Birender Singh, Hon’ble Union Minister of Steel, Government of India together with industry leadersand ministry officials. Prominent among them are:
- Mr T.V. Narendran, Global CEO & Managing Director, Tata Steel Ltd.
- Mr Sajjan Jindal, Chairman, JSW Group
- Mr Anil Chaudhary, Chairman, Steel Authority of India Ltd
- Mr Naveen Jindal, Chairman, Jindal Steel and Power Ltd
- Mr PK Rath, Chairman-cum-Managing Director, Rashtriya Ispat Nigam Ltd.
- Mr Saraswati Prasad, Special Secretary and Financial Advisor Ministry of Steel, Government of India
- Ruchika Chaudhry Govil, Joint Secretary, Ministry of Steel, Government of India
- SmtRasikaChaube, Addl Secretary, Ministry of Steel, Government of India
- Mr D.P. Mohapatra, Addl. DGFT (Logistics), Ministry of Commerce & Industry
Over the last couple of years, the Indian Steel industry has been on a mode of capacity expansion, building around 130 MTPA steelmaking capacity in April-Dec FY18, in expectation of a huge spurt in consumption. Production & Consumption of Steel have witnessed rising trends with India overtaking Japan to become the second largest producer in the world. The market is advancing as new technologies emerge. At six focused sessions with industry experts, the International Steel Conclave will represent the entire cross-section and stake-holders of the industry on a common platform as they look to share their knowledge about the entire steel scenario- Indian and global perspectives, innovations, technology, future trends, the human face-CSR and sustainability,as well as challenges and opportunities in international steel trade.
Dr Bhaskar Chatterjee, Secretary-General, Indian Steel Association explained that “The Indian Steel industry is fully in tune with the Government of India’s vision of reaching a production capacity of 300 million tonnes per annum by the year 2030 as depicted in the National Steel Policy 2017. We are one of the few major economies where consumption has been growing. It is predicted that the Indian growth story will continue its upward trajectory in the coming years. Undoubtedly, India remains the brightest spot on the globe in terms of both production as well as consumption”.
2018 is an important year for the industry as it is expected to be the comeback year for Indian Steel with profitability returning to the industry, after several years of distress. Domestic demand acceleration spurred by large govt outlays on infrastructure have revived steel demand in 2018. Persistent margin compression in the steel sector for the last few years led to unprecedented financial distress that threw up a unique opportunity.
According to MrSeshagiri Rao, Joint Managing Director JSW Steel & Group CFO, “JSW Steel has been implementing organic capacity expansion as well as participating in the ongoing bidding for stressed steel assets to make steel available to meet growing domestic demand. The Indian Steel Industry requires hand-holding from Government in terms of policy calibration to enable access to natural resources and capital to achieve the goal of 300 MT steel capacity by 2030 as envisioned in the National Steel Policy. We believe the International Steel Conclave by ISA is an important platform to set the context for collaboration with technology suppliers, customers, vendors and other stakeholders to establish a sustainable, competitive & profitable steel industry.”
Reflecting his thoughts on why the Industry needs a strong common voice and platform to address pertinent issues, Mr Dilip Oommen, Managing Director, Essar Steel said: “Rising costs of inputs, including iron ore, coke, coal, natural gas, electrodes etc. are putting immense pressure on the margins of the steel producers. ISA Steel conclave is an ideal platform to deliberate on the major issues the Indian Steel Industry is facing.
Participants can share the best practices and innovative ideas that will improve the competitiveness and sustainability of our Steel Industry. ISA can be of help to take up some of the critical recommendations with the concerned ministries.” With the industry coming together as one voice on this platform, the International Steel Conclave’s business-oriented approach will prove highly valuable for the attendees.
Additionally, the conclave has acquired support from the global industry body that represents 85 percent of global steel–the World Steel Association which believes that India is the undoubted global star in terms of growth in steel use reflected in a strongly developing economy. It is an exciting context for industry stakeholders to come together for meaningful dialogue.
For more information, please visit: http://isa-steelconclave.com/