India to be net exporter of steel for years: Pradhan
Steel Minister Dharmendra Pradhan on Monday said that in the next two-three years, India will be in a position to remain a net exporter of steel for years.
The minister was speaking at an event 'Chintan Shivir', organised by the steel ministry. The event had a theme of making the domestic steel sector "vibrant, efficient and globally competitive".
Currently, India has a production capacity of about 140 million tonne (MT) capacity and produces over 100 MT of steel annually, he said.
"We also produce saleable steel. We sometimes become importer, sometimes we are exporter. At present, we are net importer, we are importing about 2-3 MT. The outcome of this Chintan Shivir will be that within the next two-three years, India will remain a net exporter of steel for years. There will be no import," he said.
With an aim to increase exports, India has also started talking to countries from which it buys petroleum, said Pradhan, who is also the minister for petroleum and natural gas.
"To buy oil .