Panaji (Goa) [India], November 6 (ANI): Union Minister of Coal and Mines G. Kishan Reddy on Friday said India is targeting steel production of 300 million tonnes by 2030 and 500 million tonnes by 2047, as the government looks to increase iron ore production to meet rising demand and make steel more affordable for the common man.
Addressing a press conference following the conclusion of the 4th Conference of Mining Ministers in Goa, Reddy said the government is working to strengthen the mining sector by expanding exploration activities, increasing mineral production and ensuring transparency.
"Currently, India produces 168 million tonnes of steel. Prime Minister Narendra Modi has set a target of producing 300 million tonnes of steel by 2030 and 500 million tonnes by 2047," he said.
Highlighting the importance of affordable steel for housing, Reddy said increasing iron ore production would help reduce steel costs and make homeownership more accessible to people across income groups.
"Whether they are private sector employees, government employees, lower-middle-class families or middle-class families, everyone dreams of owning a home," he said.
"The more steel and cement become available to people, the more achievable their dream of owning a home becomes," the Minister added.
Reddy said the government is making efforts to increase iron ore production across the country to meet the growing demand for steel.
The Minister also stressed the need to utilise existing mining dumps, noting that significant quantities of iron ore could still be recovered from material extracted several years ago.
"Similarly, mining dumps should be fully utilised. Many years ago, these dumps were created, but they are currently not being utilised. Significant quantities of iron ore can still be recovered from these dumps," he said.
Speaking about the importance of critical minerals, Reddy said competition among major economies for access to mineral resources has intensified, making exploration and mining activities increasingly important.
"Today, the importance of critical minerals and the mining sector has increased significantly. There is considerable tension among major countries over access to minerals," he said.
On coal production, the Minister highlighted that India has achieved the milestone of producing one billion tonnes of coal for the first time since Independence.
He said India is the world's second-largest producer and consumer of coal and holds the fifth-largest coal reserves.
Reddy further noted that the mining sector provides employment to approximately 30 lakh people, while around 73–74 per cent of India's electricity generation is based on thermal coal.
"Currently, around 73–74 per cent of India's power generation is based on thermal coal. Therefore, the demand for coal and electricity is also increasing," he said.
Emphasising transparency in mining operations, Reddy alleged that the sector had witnessed frequent controversies during the previous Congress-led government's tenure, while the present government had focused on transparent processes over the past 12 years.
The Minister also highlighted the discussions held during the two-day conference on increasing mining activities across states and addressing challenges faced by the sector.
Referring specifically to Goa, Reddy said the Centre would extend full support to the state government in strengthening mining operations, increasing employment opportunities and boosting revenue generation.
"Whatever cooperation the Government of India can provide to Goa in the mining sector, we will extend our full support for Goa's development, mining activities and employment generation for its people," he said.
Reddy noted that both Goa and Karnataka have requested an increase in the ceilings imposed by the Supreme Court on mining activities in the respective states.
He said discussions were underway on these requests, while issues related to the Supreme Court were gradually being addressed.
The Minister also appreciated Goa's use of technology in mining operations, including exploration, transportation, quality control, safety and security.
"The Government of Goa is using technology to ensure transparency and prevent unwanted incidents," he said.
Reddy added that the Centre wants other states to adopt similar technological practices to improve transparency and operational efficiency in mining.
The 4th Conference of Mining Ministers concluded in Goa after two days of deliberations on key priorities for the growth of India's mining sector.
The second day witnessed participation from states including Telangana, West Bengal, Karnataka, Rajasthan, Uttar Pradesh, Andhra Pradesh and Kerala.
Representatives from these states highlighted key issues, shared their experiences and discussed challenges and opportunities in the mining sector. (ANI)
India targets 300 million tonnes of steel production by 2030, 500 million tonnes by 2047: Union Minister Kishan Reddy
