India is going to be a net exporter of steel for years to come said Dharmendra Pradhan, Minister for Petroleum and Natural Gas, and Steel.

Speaking at the first Chintan Shivir: Towards a Vibrant, Efficient and Globally Competitive Indian Steel Sector, Pradhan said, “India has been purchasing crude oil from so many countries but there is hardly any role of Indian exports in developing the infrastructure there. Now we have started asking them to give a preference to Indian steel companies for meeting their needs...We envisage that for the years to come, India will be a net exporter of steel.”

Commenting on the role of Free Trade Agreements and how they impact the steel sector, Pradhan said, “The domestic industry should also look at means to produce cost effective quality steel similar to other countries to gain the most from FTAs with India.”

Pradhan said that there is also a need to bring down the export of natural resource to zero. His comments were in light of demands to lower the export duty on high grade iron ore.

Pradhan also said there is a need to relook whether there should be a Ministry of Steel at all. He said that both private and public sector undertaking companies can be given a free hand to operate.