India will become second biggest steel manufacturer by year end: Study

Posted on:11 Oct 2016 18:18:00
India will become second biggest steel manufacturer by year end: Study
11 October 2016 Current Affairs: Union Minister for Steel Birender Singh on Sunday said India would become the second biggest steel manufacturer in the world by year-end.

Currently, China is the largest steel manufacturing country followed by Japan and produces five times more steel than India.

At present, about six lakh tonnes of steel is manufactured in old factories and private plants across India.

Steel industry accounts for just two per cent share in the Gross Domestic Product (GDP) of the country and efforts are being made to increase it.

Mr. Singh said a new steel manufacturing plant of one million tonne capacity would soon be set up in joint venture and the steel manufactured here would be exported.

In order to put a check on corruption and provide better opportunities to the youth, he said it is essential to bridge the education gap between the urban and the rural areas. “The vision of a better India can only be realised after bridging the gap between the education facilities available in the rural and urban areas.

Monthly Current Affairs

Current Affairs Section

Daily Current Affairs Quiz

Subscribe to Current Affairs

Enter your email to get daily current affairs

Current Affairs September 2017

23 SEPTEMBER
NEWS
22 SEPTEMBER
NEWS
21 SEPTEMBER
NEWS
20 SEPTEMBER
NEWS

Current Affairs August 2017

31 AUGUST
NEWS
30 AUGUST
NEWS
29 AUGUST
NEWS
28 AUGUST
NEWS

Current Affairs July 2017

31 JULY
NEWS
29 JULY
NEWS
28 JULY
NEWS
27 JULY
NEWS