Odhisa to become the ‘Steel Hub’ of INDIA

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The price of steel in India is on the rise. The cost of a hot-rolled coil has been increased by up to 3,500 rupees per ton. However, the prices are still competitive as compared to the global markets.

According to Rashika Chaube, Steel Ministry Additional Secretary, the prices of steel follow global trends. The price of steel, according to her, is influenced by market dynamics. And the price in India is still considerably low as compared to the international market prices.

Tata Steel indicates that the price of the metal will increase by 2,500 rupees per ton, while in the European market the increase will be 25 to 30 pounds per ton.

This worldwide rise in metal prices is due to the increase in the prices of coal and other raw materials. A rise in the prices of other goods is making it difficult for the producers to sell steel at older prices.

Some analysts are being optimistic about the fall in the price of metal when the price of iron ore and energy sources is lowered. The rise in prices of metal, coal, and other raw materials is affecting other business sectors like the automobile industry, real estate market, etc.

Mission Purvoday, was launched by the Centre to turn Easter India into a potential steel hub. According to Rashika Chaube, East India was estimated to contribute around 80 to 90 million tons out of the 250 million tons of total production by the end of 2030.

The government framed out several strategies for making this process easier by eliminating the bottlenecks from within the investment process by setting up land banks, making sure about the availability of iron ore at affordable prices, and providing statutory clearances on time.

The government further wishes to use the existing inland water routes to decongest the ports of Eastern India. 11 zones and 9 clusters have been identified.

The government is all set to launch the Kalinganagar cluster in the Jaipur district of Odhisa. It is being developed to be the ‘Steel Cluster’ of India. Kalinganagar holds high chances of emerging as the ‘steel hub’ with the help of mega steel plants owned by Tata Steel, Jindal, Nilachal Ispat Nigam, Visa, etc.

Along with Odhisa, the steel ministry is thinking about introducing a cluster concept in the Eastern states of Jharkhand and West Bengal as well.

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