Heavy Industries Minister H. D. Kumaraswamy today urged the steel industry to embrace digitalization as a cornerstone for future growth. Addressing the Chintan Shivir on Digitalisation in the Steel Sector in New Delhi, he highlighted India’s robust steel sector performance.
He said that the country has maintained its position as the world’s second-largest steel producer since 2018. The minister said that crude steel production has grown at nearly 8% annually since Financial Year 2021-22, while finished steel consumption has risen by approximately 13%, driven by strong domestic demand.
Mr Kumaraswamy emphasized that technologies like AI, Machine Learning, digital twins, robotics, and advanced analytics are essential for boosting productivity, enabling predictive maintenance, enhancing safety, optimizing energy use, and reducing costs.
The Chintan Shivir aims to bring together key stakeholders from the steel sector to deliberate on Digitalization in Steel Sector initiatives and the future roadmap for the industry.
