PANAJI — India is targeting steel production of 300 million tonnes by 2030 and 500 million tonnes by 2047, Union Minister for Coal and Mines G. Kishan Reddy said on Friday, as the government looks to increase iron ore production to meet rising demand and make steel more affordable for the common man.

Source: Devdiscourse

Addressing a press conference after the conclusion of the two-day 4th Conference of Mining Ministers in Goa, Reddy said India currently produces around 168 million tonnes of steel annually, and that Prime Minister Narendra Modi had set the production targets to support the country's growing requirements, Construction Mirror reported.

Source: Construction Mirror

The minister linked the expansion of steel production to housing demand across income groups, pointing out that steel and cement are essential materials for construction, and said higher production would help make steel affordable for ordinary buyers.

On raw materials, Reddy said the Centre was working to expand iron ore output across the country and noted that Goa could contribute by increasing mining activities, subject to applicable Supreme Court restrictions. He called for the utilisation of old mining dumps in Goa, stating that considerable quantities of iron ore could still be recovered from previously extracted material.

Reddy said the Centre would extend full support to the Goa government in strengthening mining operations, generating employment and boosting revenue. He also noted that both Goa and Karnataka have requested an increase in the ceilings imposed by the Supreme Court on mining activities in the two states, Devdiscourse reported.

The Mining Ministers' Conference concluded in Goa after two days of deliberations on increasing mining activities across states, strengthening exploration and ensuring transparency in the sector.