Chaudhary Birendra Singh Appointed as the New Union Steel Minister

Today, Chaudhary Birendra Singh has been appointed as the new union steel minister. Earlier, Narendra Singh Tomar was in charge of the steel & mines ministry since the NDA government was sworn in 2014.

Speaking on the occasion, Chaudhary Birender Singh said, “The Indian steel industry is currently passing through a severe downturn and he will be working honestly and vigorously for the promotion of the steel industry and to protect the interests of the Indian Steel Industry.” 

Since 2014, Chaudhary Birendra Singh had been served as Minister of Rural Development, Panchayati Raj, Sanitation & Drinking Water in the Narendra Modi led NDA Government in India. Now, he started serving as the Union Minister. Shri Birender Singh has a long political career of over 44 years in public life and over 16 years as minister in the state and central governments.

In FY16, India’s crude steel production was 91 MnT; registered a growth of 8% against 84.5 MnT  last fiscal year.

The new steel minister will have his hands full, with the steel industry tussling with lowest steel prices since 2008. In current scenario, domestic steel demand is also low and facing global increase in steel capacity as cheaper steel import, especially from China, has created price competition among steelmakers. This in turn leading to a fall in realisation for domestic steel companies, which are saddled with huge debt.

India also focusing to achieve 300 MnT steel production capacities target till 2025. New mineral policy also eyes at enhancing mining sector’s share in GDP to 6% from present 2.4% share in a recent conclave by steel and mines ministry.

In addition, India may alter the list of steel items that attract a minimum import price if the country decides to continue with the protectionist measure beyond Aug’16 and also present status of investigation on anti dumping duty.

Talking to media about his future plans for the Steel Ministry, Chaudhary Birender Singh said that he wants to make the steel sector progressive and globally competitive and will be facing the challenges posed by the current world scenario with a futuristic roadmap for the Indian Steel Industry.