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Indian steel PSUs should tighten their belts - Mr Birender Singh-The 18th China(Guangzhou ) Int’l Casting product Exhibition
6/6/2017 casting expo-Die-casting expo-foundry expo |
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ANI News quoted Union Steel Minister Mr Chaudhary Birender Singh as saying that the Public Sector Undertaking steel manufacturing companies should tighten their belts to remain competitive in the international market. Talking to ANI, Mr Singh said that "Be it PSUs or private sector, today world has become a family and you cannot remain in isolation. Therefore it is necessary for the PSUs to become competitive because if they can''t compete they will be out of the market. If they fail then it would impact nation''s economy,"
He has instructed the PSUs to produce quality steel products which are in demand for exports. The minister added that "I have told the PSUs instead of producing traditional type, crude steel, they should produce new products based on the research that has demand in the world so that the export is increased.”
Steel public sector firms Steel Authority of India Limited and Rashtriya Ispat Nigam Limited are being modernized. Till February, INR 64,986 crore have been spent by SAIL towards modernization and expansion, mines and related schemes.
-The 18th China(Guangzhou ) Int’l Casting
product Exhibition
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