India's steel industry attracts global eyeballs at MMMM 2016
New Delhi, Aug 12 (ANI): A three-day international exhibition on Minerals, Metals and Metallurgy Materials (MMMM) 2016 attracted exhibitors and visitors from around the world here.
There was keen interest among foreign visitors who wanted to be part of the Indian steel industry's growth story.
The Indian steel industry has touched new heights riding high on the resurgent economy and rising demand.
India is world's third-largest producer of crude steel and is expected to become the second-largest producer by the end of this year.
The 11th edition of the Minerals, Metals, Metallurgy and Materials (MMMM) exhibition organized in the national capital drew huge attention. Co-sponsored by eight ministries of the Central Government, the exhibition attracted about 300 exhibitors and 15,000 trade visitors from around 35 countries.
"It is the 11th edition and this time the number of visitor's footfall is 25% higher than the last time. We are expecting even more. There are more participating countries this time. The overall atmosphere is more positive this time and the major reason is that the metal industry is picking-up" said Udo Paul Schuertzman, organizer, International Trade Exhibitions India Pvt. Ltd.
The growth in the Indian steel sector has been driven by the domestic availability of raw materials such as iron ore and cost-effective labor. The sector has also been a major contributor to the country's manufacturing output.
In the three-day event, foreign exhibitors and consumers from around the world were impressed with the growth of steel industry in India and were eager to explore the market.
"We have been here for over 1 week. And we are very glad participating in this international exhibition. I have made many good friends here. This exhibition has given us opportunity to use the potential market" said Ding Yong E, Baosteel Engineering, participant from Shanghai.
"The exhibition is very good and everything is well organized. I think it is very good and I found everything useful here" a visitor from China said.
The Indian steel industry is very modern and boasts of state-of-the-art steel mills. Over the years, the sector has up-graded older plants and achieved higher energy efficiency levels. Iran has evinced keen interest in strengthening ties with India in the steel and mines sector
According to the data released by the Department of Industrial Policy and Promotion (DIPP), the Indian metallurgical industries attracted Foreign Direct Investments (FDI) to the tune of US$ 8.89 billion in the period April 2000-March 2016.
"Lot of cranes which are being exported to Middle-East and south-east Asia are manufactured in Pune. So, we are very much in the Make In India concept. Things have been improving. Till the recent past, people had started commenting that 'STEEL industry has become 'STILL' industry but gradually it is improving and there are positive signs. There are lot of inquires coming from all over the world" said Suvendu Das, KoneCranes, Participant.
"We are making in India from last the 10 years. We have assembly plants in Pune which serves Indian market as well countries like Sri Lanka and Bangladesh. This product was launched in this exhibition. Apart from this, we have other decentralized products. We are assembling in India and in future we have plans to put additional plants. One plant we have in western India and the next plant we are planning in south India. On international platform the Make In India concept is well appreciated even our management in Germany is confident participating in Make In India" Amit, GM-Sales, Nord Drivesystem, Exhibitor said.
The steel industry and its associated mining and metallurgy sectors have attracted a number of major investments in the recent past.
The thriving automobile and railways sectors have been contributing largely in the demand of this sector.