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Indian steel consumption to go up - Ms Aruna Sharma-The 18th China(Guangzhou ) Int’l Casting product Exhibition
5/26/2017 casting expo-Die-casting expo-foundry expo |
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Economic Times reported that with the increase in domestic consumption, the production will also increase, opined Ms Aruna Sharma Steel Secretary, during an interview given to ET Now.
Q - Tell us about GFR amendment?
A - The GFR amendment clearly says that the central government, the state government or its agencies whenever they are doing their calculations they will have to take care of the lifecycle cost. So the moment you take care of the lifecycle cost, the difference it makes is that steel will be a winner.
The steel lifecycle is from 100 years to 300 years. If you use stainless steel iron bars, then 300 years. If you use stainless steel, it is 100 years. So all bridges will be of 100 years, zero maintenance. Buildings, 40% to 45% if you use steel, then it is recyclable, life is 100 years.
So if the next generation wants to change a house, at least it will get its 45% cost of the steel. So we are going to educate the people more and more and more and GFR will make it mandatory to calculate the lifecycle cost. So definitely steel consumption is going to go up.
In the housing sector, there is a great scope of absorption of steel there. So the moment that domestic consumption increases, correspondingly the production will also be found increasing.
Q - How do you think that the new NPA policy is going to help the steel sector? Is the ministry already in talks to ensure that they could use best the new rules for NPA policy?
A - Actually the homework was done by the Steel Ministry long back. We had a meeting of Indian Bankers Association, then we had a meeting chaired by the finance minister. The impact of this has been that after having this kind of meeting all one to one of the bankers and the loanees have taken place and it has reached to its culmination level.
-The 18th China(Guangzhou ) Int’l Casting
product Exhibition
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