mjunction’s Indian Steel Markets Conference Gets Underway

New Delhi, September 2022: The two-day 9 th  Indian Steel Markets Conference organised by mjunction services limited was flagged off today, in the presence of top industry leaders, analysts and policymakers holding forth on the theme “Indian steel: Touching new horizons through innovations & digital solutions”.

Delivering the keynote address at the inaugural session, Shri Sanjay Singh, Secretary, Ministry of Steel, Government of India, said, “Quality of iron ore is decreasing as mining of low-grade iron ore is rising. So, importance of scrap is growing up. But scrap generation is low as steel consumption in construction sector is locked on for long period.”

“Industry 4.0 is generation and utilisation of data. Huge data will come to us from sensors and smart devices ” Singh added.

The steel industry in India is aiming to be globally competitive through innovative solutions in the sale, buy and logistics functions. In-keeping with this, the theme of the inaugural session was titled “Indian Steel Industry: The Changing Dynamics & the Way Forward.”

In her address, Ms Soma Mondal, Chairman, Steel Authority of India (SAIL) said, “We need digital intervention to know where scraps are being generated which will help us to reduce emission through more scrap collection and usage,”

“To reach capacity of 300 million tons steel production, we need to grow consumption. How do we know where we can create demand for steel? Such decisions have to be more data driven than it is now,” she added.

Speaking on the occasion, Mr Vijay Sharma, Director, Jindal Stainless, said, “Stainless steel sector is aligned to the vision of the government for 2047. Data analytics will play a key role in it.”

“Stainless steel Industry needs level-playing field against countries like China and Indonesia who are resorting to non WTO complaint subsidies,” he added.

Earlier, delivering the welcome address mjunction MD Mr Vinaya Varma said, “India is now the 2nd largest steelmaker and in digitisation and automation, India has been a pioneer.

Today, all major steel producers have digital platforms helping them to connect with their customers seamlessly.”

Some of the other key topics discussed during day 1 of the conference include steel demand drivers, expectations of steel end users, digitalisation helping steel companies reach new markets and circular economy in steel.

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