THEBUSINESSBYTES BUREAU
NEW DELHI, JUNE 24, 2026
Union Minister for Steel and Heavy Industries H.D.
Kumaraswamy on Wednesday asserted that digitalisation is no longer an option
but the “foundational cornerstone of long-term survival” for India’s steel
industry, stressing that the sector must rapidly embrace emerging technologies
to remain globally competitive.
Addressing the Chintan Shivir 2026 on Digitalisation in the
Steel Sector at Vigyan Bhawan in New Delhi, Kumaraswamy said the future of the
steel industry would be defined not merely by production capacity but by its
ability to build intelligent, connected, and data-driven manufacturing
ecosystems. Invoking Prime Minister Narendra Modi’s vision of a Viksit Bharat
by 2047, he described the steel sector as a strategic pillar of India’s
economic transformation, powering infrastructure development, manufacturing,
renewable energy, urbanisation, transportation, and defence production.
“Steel is the backbone
of nation-building,” he said, noting that India has consistently retained its
position as the world’s second-largest steel producer since 2018, despite
subdued steel demand across several advanced economies. Highlighting the
sector’s strong growth trajectory, the Minister pointed out that crude steel
production has expanded at an average annual rate of nearly 8 per cent since FY
2021-22, while finished steel consumption has grown by approximately 13 per
cent annually, reflecting robust domestic demand and rapid industrialisation.
Kumaraswamy reiterated the government’s long-term vision of
increasing India’s steelmaking capacity to 300 million tonnes by 2030 and 400
million tonnes by 2035. However, he cautioned that achieving these ambitious
targets would require the industry to simultaneously address challenges related
to raw material security, operational efficiency, decarbonisation,
technological modernisation, and export competitiveness.
Emphasising the transformative role of advanced technologies,
the Minister said that Artificial Intelligence (AI), Machine Learning (ML), the
Industrial Internet of Things (IIoT), Digital Twins, Robotics, and Advanced
Data Analytics are reshaping steel manufacturing worldwide and must be adopted
extensively across the Indian steel ecosystem.
He observed that digitalisation and automation have the
potential to significantly enhance productivity, optimise energy consumption,
reduce operational costs, and enable predictive maintenance systems capable of
identifying equipment failures before they occur. Such interventions, he said,
would help minimise unplanned downtime, reduce human error, and strengthen
workplace safety.
The Chintan Shivir featured thematic sessions on AI-driven
mining solutions, digital transformation of steel plants, PM Gati Shakti,
Industry 4.0 applications, and case studies demonstrating measurable business
outcomes. Leading startups and industry stakeholders also participated in
discussions focused on accelerating the sector’s technological transformation.
Expressing confidence in the outcomes of the deliberations,
Kumaraswamy said the insights emerging from the forum would contribute to
building a smarter, greener, more efficient, and globally competitive steel
industry aligned with the Prime Minister’s vision of Atmanirbhar Bharat and
Viksit Bharat 2047.
Organised by the Ministry of Steel, the conclave brought
together senior ministry officials, Chairpersons and Managing Directors of
major steel public sector undertakings, including Steel Authority of India
Limited, NMDC Limited, and MOIL Limited, along with industry leaders, startups,
and technology experts.
