The country is marching ahead in the steel sector and has already become second largest producer of steel in the world. The National Steel Policy envisages crude steel output capacity of 300 Million Tonne by 2030-31 at an estimated investment of about US $ 128 billion.
However, of the total investment of US$128 billion, about US$25 billion would have to be spent by domestic steel companies for importing plant machinery & equipment, as per the current situation. Besides about US$ 400-500 million of spares need to be imported. This unfolds a huge opportunity for Indian equipment manufacturers as well as foreign technology providers having / planning their manufacturing facilities in India to cash on by developing indigenous design as well as capability to manufacture plant, equipment and spares in India to meet domestic requirement.
Against this background, the Ministry of Steel, Govt. of India and CII is proposing a Conclave on Make in India: Impetus on Import Substitution in Manufacturing of Capital Goods for Steel Sector on 24th August, 2018 at Mayfair Lagoon, Bhubaneswar, Odisha. The main objective of the Conclave is to identify the needs of the Steel industry and explore the opportunities available for domestic manufacturing players to develop indigenous capacity in steel manufacturing equipments and spare parts