New Delhi, June 24: The long-term sustainability and global competitiveness of India’s steel industry now hinge on digitalization, which has become a necessity rather than an option. This statement was made by H.D. Kumaraswamy, the Union Minister for Steel and Heavy Industries, on Wednesday.
Addressing the “Digitalization in the Steel Sector Retreat 2026,” the minister emphasized that the future of the steel industry will not solely depend on production capacity but also on its ability to create an intelligent, connected, and data-driven manufacturing ecosystem.
Highlighting Prime Minister Narendra Modi’s vision of “Developed India 2047,” he identified the steel industry as a crucial pillar of India’s economic transformation, contributing to infrastructure development, manufacturing, renewable energy, urbanization, transportation, and defense production.
Kumaraswamy referred to steel as the backbone of the nation’s construction sector, noting that despite declining demand in many developed economies, India has maintained its position as the world’s second-largest steel producer since 2018.
He further revealed that from the fiscal year 2022, crude steel production has seen an average annual increase of about 8%, while finished steel consumption has grown by approximately 13% per year.
In his address, he also mentioned the government’s vision to boost India’s steel-making capacity to 300 million tons by 2030 and 400 million tons by 2035.
Moreover, the minister underscored the significant potential of technologies such as Artificial Intelligence (AI), Machine Learning (ML), Industrial Internet of Things (IIoT), digital twins, robotics, and advanced data analytics in transforming global steel manufacturing.
Kumaraswamy stated, “These technologies can help reduce unplanned downtime, minimize human errors, and enhance workplace safety.”
The event, organized by the Steel Ministry, saw participation from senior government officials, industry leaders, technology experts, startups, and heads of major public sector steel companies like NMDC and MOIL.
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