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.


Subscribe to Current Affairs

Enter your email to get daily current affairs

Current Affairs June 2017

26 JUNE
NEWS
24 JUNE
NEWS
23 JUNE
NEWS
22 JUNE
NEWS

Current Affairs May 2017

31 MAY
NEWS
30 MAY
NEWS
29 MAY
NEWS
27 MAY
NEWS

Current Affairs April 2017

29 APRIL
NEWS
28 APRIL
NEWS
27 APRIL
NEWS
26 APRIL
NEWS