SAIL’s Chief, C S Verma has chosen as the 1st President of Indian Steel Association to resolve common steel sector issues.
Indian Steel Association, consortium of public & private steelmakers, has chosen C S Verma, SAIL’s Chief , as its 1st president on 27 Aug, 2014, to resolve common issues related to steel sector. Through this Association, the steelmakers intends to accumulate with the new government to find ways for achieving 300 MnT pa capacity target by 2025 from current production of 100 MnT (appox), reported by a source.
JSW’s Chairman, Sajjan Jindal has taken the decision for establishment of Steel Association, which was commonly approved at a steelmakers’ meeting in last May. All the players gathered yesterday to give a name to their new grouping as well as to select their office bearers.
The source in the meeting stated to media, “C S Verma is selected as the first President of Indian Steel Association. The association’s secretariat would be based out of Delhi”.
The association was formed when the Indian Steel Alliance suspended in 2008 as leading members like Tata Steel and SAIL opted out. ISA’s main objective was to promote steel usage and development of industry.
The source further added that the association will not be a copy of ISA.
At present, the major challenges faced by the steel industry are low per capita consumption, scarcity of raw material and rising imports. The association is likely to promote consumption, which is low in India and campaign for infrastructure status for steel industry, said the source.
In 2012, India’s per capita steel consumption was about 57 kg against the global average of 217 kg, as per the World Steel Association. To ensure that the material is not dumped in the country, the steelmakers will seek exemption for steel from free-trade agreements, especially with Japan and South Korea. Also, the group would pitch for banning export of mineral resources and use of asbestos.