Naveen Jindal elected the President of Indian Steel Association
Person in News
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Noted industrialist and former member of Parliament Naveen Jindal was unanimously elected as the President of the Indian Steel Association (ISA) on 21 March 2024. He also assumed the charge as the President of the Indian Steel Association on the same day. He replaced Mr Dilip Oommen, CEO, AMNS India and Executive Vice President, ArcelorMittal Nippon Steel India.
About Naveen Jindal
Naveen Jindal is currently the chairman of Jindal Steel & Power (JSP), India’s leading Industrial conglomerate with interests in steel, mining and infrastructure sector.
He has also been elected as the Lok Sabha member from the Kurukshetra constituency of Haryana in 2004 and again in 2009.
He is known for successfully fighting a ten year long legal battle, which resulted in every Indian gaining ‘Right to display the national flag on all days’ as part of their Fundamental Right.
Indian Steel Association
The Indian Steel Association was set up in 2014 as an apex body of steel producing companies of India. According to the Indian Steel Association it represents 65% of India's crude steel production.
The main function of the Indian Steel Association is to be the voice of the Indian steel industry both at national and international levels.
Headquarters : New Delhi
Steel Sector In India
The foundation of India's present iron and steel industry was laid in 1875, when a blast-furnace plant was built at Kulti near Calcutta (now Kolkata). The Kulti plant is currently being operated by Indian Iron and Steel Company (IISCO).
The first modern steel plant was set up by Jamsetji Nusserwanji Tata. He set up Tata Iron and Steel Company (now Tata Steel) was formed in 1907 and set up its plant at Jamshedpur, Jharkhand.
During second five year plan (1956-61) government started the process to first integrated steel plant of the public sector at
- Rourkela (Odisha) in collaboration with German firms,
- Bhilai (Chhattisgarh) in collaboration Soviet Union and
- Durgapur (West Bengal) in collaboration with Britain.
Status of Steel production
- India is the world's second-largest producer of crude steel in the world after China. In 2022-23 India produced 125.32 million tonnes of crude steel and 121.29 million tonnes of finished steel in 2022-23.
- The steel sector in India has grown significantly over the last decade, with production increasing by 75% since 2008.
- In 2022-23 the Steel consumption per capita in India was 86.7 kilograms.
- India is the largest producer of sponge iron in the world.
- India is the world's third-largest user of finished steel after China and the United States of America.
