(PTI)
The impact of Coronavirus outbreak will be felt on global steel industry for at least two to three years, as China is the largest producer of the alloy, Union Minister Dharmendra Pradhan said on Monday. The minister also asked Indian steel companies to enhance output, particularly special steel, to grab larger global market share.
A strategy paper was being prepared for producing 10 million tonnes of special steel at a cost of Rs.50,000 crore with 50,000 employment potential in the present scenario, he said.India is the second largest global producer of steel with an annual output of over 106 million tonne (MT), but lags much behind China that accounted for 928.3 MT of the alloy in 2018.
