India is working towards bringing down the logistical costs to help the iron and steel industry, said government representatives from various ministries during a webinar organised by FICCI on July 1.
Multimodal infrastructural projects like the Bharatmala project (road link), Sagarmala (waterways and coastal logistics) and a dedicated freight corridor in the logistics sector will reduce production cost and time, said Faggan Singh Kulaste, Minister of State for Steel.
The National Steel policy’s aim is to create a capacity of 300mn mt by 2030-31 and 255mn mt of crude steel to be produced. He advocated a cluster-based industry approach. He added that setting up DRI, pellet and sponge iron plants nearby will also help in bringing down the logistics cost.
NHAI is mulling dedicated greenfield corridors under the Bharatmala project while the commerce ministry will soon introduce a new Logistics Policy.