New Delhi: Union Minister of State for Steel and Rural Development Faggan Singh Kulaste on Wednesday said that the mineral and metal sector has played a key role in the development of the country and will transform India from a developing to a developed country.

Addressing the valedictory session of the two-day international conference on ‘Indian Minerals & Metals Industry – Transition Towards 2030 & Vision 2047,’ the Minister said that the sector should be more innovative, competitive and research friendly to enhance its capability of production of minerals and metals to meet the country’s needs as well as to export them.

Kulaste also said natural resources and their maximum possible exploration without harming the environment will be the key factors for our march towards development. Steel sector is playing a major role for the infrastructural development in every sector in the country. The Ministry of Steel has introduced various programs like PLI Scheme, FDI etc. to encourage the players of the sector, added the Minister.

Addressing the session, Secretary, Ministry of Steel, Sanjay Singh stressed upon the reduction of carbon emission in the Steel sector to move towards Green Steel as directed by the Prime Minister. 

Singh said that the targeted capacity for steel sector for 2030 as well as 2047, which has been pegged at 300MT and 500MT respectively, would be achieved with a proper roadmap in place for it. This would mean that the reserves of iron-ore as estimated would have to be converted into resources as that would be ideal to achieve the desired path, stressed the Secretary Steel. /BI/