Mondal calls for Technology & Innovation Fund to facilitate the R&D initiatives
Digital technologies are important to improve the efficiency and output of Indian steel sector which has strong forward and backward linkages as well as contributes significantly to the overall growth and development of the economy, according to Dr V K Saraswat, Member, NITI Aayog.
“Technology and innovation are the need of the hour as through this we will be able to manage the competitiveness and minimize the environmental impact,” he told a webinar ‘Steel Technology & Innovations – Increasing Productivity & Technology Quotient’, organised by FICCI on 1 July 2021.
“Digital revolution certainly has to be harnessed. Digital technologies are changing the world and improving the way organisations work. Steel and Metal manufacturers have a huge opportunity to transform their operational models by adopting digital technologies and enabling them to improve operational efficiency, customer service, inventory levels and profit margins,” he elaborated.
In the digital transformation, he said four levels are key, digital data, automation, connectivity and digital customer access which are crucial for effectively implementing the digitalization process.
“This is particularly important for brownfield industries which need upgradation in this area,” he emphasized.
Speaking on the National Steel Policy, Dr Saraswat stated that the policy was created to enable the creation of a self-sufficient steel industry that is technologically advanced along with becoming globally competitive and promote inclusive growth. The policy also envisages a per capita consumption increase to 160 kg by 2030 against 74 kg currently, he noted.
Dr Saraswat further said that in order to achieve a US$5 trillion economy, the Ministry of Steel has defined a 5-year vision in order to shape and drive the Indian steel sector. “There are 4 dynamic pillars in this which includes the steel demand, availability of raw materials, steel supply capacity and steel trade flows.”
Dr Saraswat also stressed on the need for decarbonizing the Indian steel industry as the sector contributes 7% to the global carbon dioxide emissions and thereby making it urgent target for decarbonizing. “We have to start using the blue hydrogen in production as much as possible.”
“Technology today is global and in the global value chain it is important to look at the trade aspects along with the policies determining the trade,” said B N Satpathy, Senior Consultant, Office of Principal Scientific Advisor, Government of India.
“It is imperative to lay emphasis on advanced technologies & innovations to improve efficiency and productivity of the sector, to reach to the targets envisaged,” added Parmjeet Singh, Additional Industrial Adviser, Ministry of Steel.
He pointed out that the National Steel Policy 2017 has set a target to raise production capacity at mills to 300 MT and steel demand is expected to grow to 230 MT by 2030-31.
Soma Mondal, Chair, FICCI Steel Committee and Chairman, Steel Authority of India Ltd, has emphasised the need to setup Technology & Innovation Fund to facilitate the R&D initiatives and technology adoption for the general benefits of the Indian steel industry and Steel MSME.
“With our strong linkages with end use sectors like construction, infrastructure, railways, defense, oil & gas, transportation and many others, steel industry has strategic importance in the National Mission of Atmanirbhar Bharat,” she stressed.
This is the right time for the country to grow both in the brownfield and greenfield projects, leveraging the domestically established technology prowess, according to V R Sharma, Co-Chair, FICCI Steel Committee & MD, Jindal Steel & Power Ltd.
Pankaj Satija, Senior Member, FICCI Steel Committee and Chief Regulatory Affairs, Tata Steel, pointed out that technology deployment is one segment wherein the industry needs to keep progressing towards the advancements, irrespective of the success rate, to make the industry globally as well as domestically competitive.
Dr Mukesh Kumar, Director, SRTMI (under the aegis of Ministry of Steel), highlighted the webinar objectives, stating that to achieve the next era of growth for Indian steel, it is necessary to build the tech-enabled industry of tomorrow. And therefore, the webinar was organised to discuss the future technologies, opportunities and challenges. #technologies #digital #investment #research #infrastructure #projects /fiinews.com
