Key takeaways from AISC 2.0: Leveraging product diversification to unlock opportunities in value-added steel

• Green steel production offers major opportunities
  
  
• Chhattisgarh govt working to boost state's steel output
  
  

The All India Steel Conclave 2.0, held on 10-11 January 2025, under the aegis of the Chhattisgarh Steel Re-rollers Association, with BigMint as its Knowledge and Marketing Partner, provided a platform for key stakeholders to deliberate on product diversification.

The session on "Product Diversification - Unlocking Opportunities in Value-Added Steel and Emerging Markets" highlighted the waves of technological innovation in steel plants and consuming sectors, trends such as commoditisation, and the growing demand for specialty

and alloy steels, with an emphasis on Chhattisgarh.

Key takeaways

Sustainable innovation offers major opportunities

A key focus was reducing carbon emissions and improving energy efficiency in markets such as China, Europe, India, and the US, with green steel production through electric arc furnaces as a major opportunity. Innovations such as 3D printing and digitalisation were seen as reshaping manufacturing processes, while circular economy principles have encouraged recycling, waste reduction, and low-carbon products.

How Chhattisgarh is expanding its industrial base

The Chhattisgarh government is fostering industrial growth, particularly in steel, defence, and manufacturing, by offering incentives and policy support, said Prabhat Malik, IAS, Secretary, Department of Commerce and Industry, Government of Chhattisgarh. The state is positioning itself as a steel production hub, with advantages such as favourable land availability, proximity to raw materials, and strong infrastructure. It is also promoting defence sector growth by leveraging existing facilities such as the Defence Research and Development Organisation (DRDO) and attracting large defence manufacturers. The government aims to address land acquisition challenges by creating land banks and providing tax incentives while emphasising skill development for a future-ready workforce.

Chhattisgarh's focus includes enhancing steel production, with a goal to become a leading hub by 2030. The state is also fostering innovation and R&D to improve competitiveness, with companies such as Jayaswal Neco Industries investing in alloy steel production for sectors such as automotive, railways, and defence. Private sector participation is encouraged through subsidies and R&D assistance, aiming to attract both domestic and international investments.

Shyam Steel's strategy for product diversification

Shyam Steel, a major player in the industry, has been producing steel for over 70 years, primarily TMT bars, and has expanded its reach through a nationwide distribution network. The company is focusing on improving product quality and exploring new markets. It is diversifying into sectors such as construction chemicals, solar structures, and alloy steel for automotive and fastener applications. Shyam Steel is also investing in new technologies, including an electric arc furnace and wire rod production line, to serve high-stress solutions and automotive components.

The company's long-term strategy includes supplying high-quality alloy steel for industries such as wind and hydro energy, energy storage, and oil and gas applications. By continuing to innovate, the company aims to maintain a competitive edge in the evolving steel market, aligning with trends in sustainability and high-value sectors.