News: India is 7th largest steel producer in the world

(PTI 12/03/2007) New Delhi - International Iron and Steel Institute (IISI) has ranked India as the 7th largest steel producer in the world with an overall production of about 40 million tonnes in 2006, Minister of State for Steel Akhilesh Das said in the Lok Sabha today.

Replying to a written question, Das said India's ranking in terms of annual steel production increased from 9th in 2004 to 7th in 2006.

He said the government is not taking any direct steps to push India's global ranking but considering the importance of the sector, it is aiming at achieving production level of 110 million tonne by 2019-20.

Replying to another question the minister said, IISCO plant of SAIL has incurred a loss of Rs 407 crore since 2005-06 due to obsolete technology of production.

"The government would invest Rs 9,592 crore in the next 3 years to revive IISCO. The modernisation and upgradation plan has been approved by SAILs board," Das said.