India set to become second largest steel producer

India is poised to become the world’s second largest steel producer. However, this is subject to companies finding the right technology to produce special categories of steel. Currently, with 74 million tonnes annual production in 2011, India is the fourth largest producer. Per capita steel consumption went up to 59 kg in 2011-12, from 34 kg in 2004-05. With the modernisation programmes of various public and private companies, the country will soon rise to second place, Prime Minister Manmohan Singh said in his address to the steel industry, after giving away trophies for the best integrated steel plant here on Monday. However, he noted that despite impressive data, per capita steel production was much lower than the global average of 215 kg. Also, the country was one of the importers of special category of steel. The Prime Minister’s trophy was awarded to SAIL’s Bhilai Steel Plant for 2009-10. Tata Steel got the trophy for 2008-09.