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mjunction’s Indian Steel Markets Conference Gets Underway

~ Steel Secretary, GoIShri Sanjay Singh delivered keynote address~

New Delhi, September 17 ,2022 ( Odisha Samachar )-: The two-day 9th Indian Steel Markets Conference organised by mjunction services limited was flagged off today, in the presence of top industry leaders, analysts and policymakers holding forth on the theme “Indian steel: Touching new horizons through innovations & digital solutions”.

Delivering the keynote address at the inaugural session, Shri Sanjay Singh, Secretary, Ministry of Steel, Government of India, said, “Quality of iron ore is decreasing as mining of low-grade iron ore is rising. So, importance of scrap is growing up. But scrap generation is low as steel consumption in construction sector is locked on for long period.”

“Industry 4.0 is generation and utilisation of data. Huge data will come to us from sensors and smart devices ” Singh added.

The steel industry in India is aiming to be globally competitive through innovative solutions in the sale, buy and logistics functions. In-keeping with this, the theme of the inaugural session was titled “Indian Steel Industry: The Changing Dynamics & the Way Forward.”

In her address, Ms Soma Mondal, Chairman, Steel Authority of India (SAIL) said, “We need digital intervention to know where scraps are being generated which will help us to reduce emission through more scrap collection and usage,”

“To reach capacity of 300 million tons steel production, we need to grow consumption. How do we know where we can create demand for steel? Such decisions have to be more data driven than it is now,” she added.

Speaking on the occasion, Mr Vijay Sharma, Director, Jindal Stainless, said, “Stainless steel sector is aligned to the vision of the government for 2047. Data analytics will play a key role in it.”

“Stainless steel Industry needs level-playing field against countries like China and Indonesia who are resorting to non WTO complaint subsidies,” he added.

Earlier, delivering the welcome address mjunction MD Mr VinayaVarma said, “India is now the 2nd largest steelmaker and in digitisation and automation, India has been a pioneer. Today, all major steel producers have digital platforms helping them to connect with their customers seamlessly.”

Some of the other key topics discussed during day 1 of the conference include steel demand drivers, expectations of steel end users, digitalisation helping steel companies reach new markets and circular economy in steel.

About mjunction:

Founded in 2001 and headquartered in Kolkata, mjunction services limited is an equal joint venture of SAIL and Tata Steel. It is a customer focused, technology-driven and innovative e-commerce company, and connects businesses with businesses to buy and sell better using digital platforms. With over two decades of operations, mjunction is among India’s most trusted B2B organizations, with a cumulative GMV of above INR 12 lakh crores. mjunction’s mission is to make the world a better place every day, creating robust and sustainable supply chains through greater efficiency and transparency, disintermediating value-destroying middlemen, and delivering desired outcomes to stakeholders, always. mjunction is ISO 9001:2015, ISO 27001:2013 certified and is appraised at CMMI Level 5.Internationally, it has a business footprint in Australia, Singapore, UK and the United Arab Emirates. mjunction also has its own offices in UAE and UK.

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