NewDelhi: The government of India will make all efforts to ensure that engineering goods exports double in the next 5 years and reach USD 200 billion by 2030. This will not only boost India’s exports but will also generate jobs in the manufacturing sector especially the MSME sector, said union minister for Commerce & Industry Piyush Goyal during a review meeting on the Steel sector.
He along with Steel Minister discussed the challenges being faced by the steel sector and the import-export trends with steel producers in New Delhi today.
Although India is the second largest manufacturers of steel but India is also a net importer of steel. Representatives of the steel industry and the Engineering Export Councils discussed in detail with Commerce and Steel Ministers the protectionist measures being imposed by other countries and the under-utilised capacity in steel manufacturing in India.
Both the ministers discussed at length the measures that both Commerce and Industry and Steel Ministry may take, both tariff and non-tariff, to reduce unnecessary imports and boost exports.
The MSME sector steel manufacturers urged steel producers to supply raw material at concessional prices so that the MSME sector can compete in international markets.