India should cut down its dependence on imports of special steel products through value addition by domestic steel mills and more joint ventures and technology sourcing from global steel majors, India's steel minister stated on Friday, June 22.
“Government steel companies have all the advantage of captive mines. Why don’t they utilize it? Why not put up washeries? Why not increase capacity for manufacture of special steels?” Minister Chaudhary Birendra Singh said.
“Instead of producing just semi-finished and basic steel products, government steel companies must produce value-added special steel products to get better prices and cut down import dependency,” the minister said.