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Union Minister of Commerce and Industry Piyush Goyal on Tuesday said the government remains committed to strengthening the competitiveness of India's steel sector and unlocking new growth opportunities through close collaboration with industry stakeholders.
In a post on social media, Goyal said he held a stakeholder consultation meeting along with Union Minister for Heavy Industries and Steel H.D. Kumaraswamy with representatives from the steel, stainless steel and metcoke industries. The Commerce and Industry Minister described the meeting as "highly productive" and said discussions focused on measures to enhance the competitiveness of the sector and create new avenues for growth. "Held a highly productive stakeholder consultation meeting today alongside the Minister of Heavy Industries & Steel, @HD_Kumaraswamyavaru. Engaged in a constructive discussion with key leaders from the steel, stainless steel & metcoke industries on strengthening the sector's competitiveness & unlocking new growth opportunities," Goyal said. He reiterated that the Modi Government remains fully committed to working closely with industry and supporting its aspirations. "The Modi Government remains fully committed to fostering close collaboration with industry, supporting its aspirations and driving robust growth across these critical sectors to build a stronger, more self-reliant India," he added. The meeting comes at a time when India's steel sector has reported broad-based growth during the first quarter of FY2026-27. According to provisional data released by the Ministry of Steel on Monday, finished steel consumption increased 8.3 per cent year-on-year to 41.6 million tonnes during the April-June 2026 period. Finished steel production also recorded growth during the quarter, rising 5.9 per cent year-on-year to 41.0 million tonnes. The faster growth in consumption compared with production reflected continued strength in domestic demand. The ministry's data also showed that India remained a net importer of finished steel during the period. On a monthly basis, finished steel consumption increased 7.2 per cent year-on-year to 14.2 million tonnes in June, while finished steel production rose 6 per cent to 13.8 million tonnes. The stakeholder consultation with industry representatives was held against the backdrop of rising domestic steel demand, with the government reiterating its focus on working with industry to enhance competitiveness, promote growth and strengthen India's steel ecosystem as part of its broader vision of building a self-reliant economy. (ANI)
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