Prime Minister Narendra Modi said on Thursday that raw material security remains a major concern for India’s steel sector. Speaking at the India Steel 2025 event via video conference, he urged the industry to reduce reliance on imported coal and accelerate greenfield mining projects.

Calling steel the backbone of development, Modi said the sector is crucial to India’s $5 trillion economic vision. He highlighted India’s position as the world’s largest steel producer and one of the fastest-growing markets, emphasising the growing domestic demand driven by infrastructure, automotive, and defence sectors.

Citing the $1.3 trillion National Infrastructure Pipeline, Modi said the government’s development push is generating consistent steel demand. He also noted that Indian-made steel was used in the country’s first captive aircraft.

Looking ahead, the Prime Minister outlined goals of producing 500 million tonnes of steel by 2047 and exporting 25 million tonnes. He also called for manufacturing advanced ships in India and stressed the need for high-grade steel and stronger R&D efforts.

He urged collaboration between the public and private sectors to drive innovation and meet rising global standards.

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