India on track to become top global steel producer as per BMI Report

Date : 10 June, 2017

India as a steel bright spot is highly encouraging and is on track to become a top global producer, says industries and macroeconomic research body BMI.

As per their latest report, demand from construction, automotive and infrastructure industries in the country continues to accelerate.

The report has accredited the steel sector’s success to the government’s push to raise capacity in order to meet demand from construction, automotive and infra sectors, said the Steel Users Federation of India (SUFI) in a statement today.

BMI Research has forecast India’s steel output to clock an average annual growth of 8.9 per cent during 2017-21, higher than 2.9 per cent in 2012-16.

The report also stated India’s steel output would grow to 128.6 mt by 2021 from 88.4 million tonnes (mt) in 2017 and the country’s share of global steel production will accelerate to 7.7 per cent in 2021 from 5.4 per cent in 2017.

Commenting on the growth of the industry, SUFI President Nikunj Turakhia said, “In recent years, the Indian steel industry has showcased a progressive output trend y-o-y.”

Being recognised as a “bright spot” is highly encouraging as well as a large responsibility at the same time, he said, adding that with the introduction of new steel and anti-dumping policies, India is on the path to become one of the top steel producers.

The report also highlighted that Indian steel giants such as Steel Authority of India Ltd (SAIL) and Tata Steel as the major drivers of such growth.

Ahead of the GST Council meeting tomorrow, Turakhia expressed concern over the headwinds faced by the sector. He has also urged the government to relax imposition of GST penalties and prosecution.

SUFI was part of the delegation that recently presented its case on GST to Maharashtra Finance Minister Sudhir Mungantiwar in Mumbai.


Inauguration Of New Training Hall At Our Raigarh Works

Date : 26 August, 2013

A brand new Training Hall at MSP Raigarh works is inaugurated today by Hon’ble Managing Director Mr. Suresh Kumar Agrawal. The Training hall will be used for various technical and non technical training programs for our employees at works. Owing to our increasing training need and challenges towards higher efficiency level the training hall is going to be a landmark initiative towards Excellence.

Our MD in his deliberation to all Divisional/ Departmental/ Section Heads, he emphasized on learning, sharing of knowledge and thereby increasing the efficiency of one and all by properly utilizing this maiden infrastructure.

Genius HR Excellence Award

Date : 23 August, 2013

MSP Steel & Power Ltd. has received Genius HR Excellence Award, 2013 in association with The Times of India for “Innovative Retention Strategy”. The award was received by Mr. George Thomas, Vice President Corporate HR & Admin. along with his team for remarkable achievement in the field of Human resource. The Genius HR Excellence Award 2013 was a national event organized in association with Times of India on 23rd August 2013 at Hyatt Regency Kolkata. More than 350 companies from all over India had participated in the Genius HR Excellence Award and our company MSP Steel Power Ltd were nominated out of three in award categories of Best HR Practicies, Best Training Initiatives, Innovative Succession Planning, Innovative Recruitment etc.

Award to our Hon’ble Managing Director

Date : 17 June, 2013

We have the privilege to announce that on 17th June 2013 along with obtaining IMS certificates the company achieved yet another milestone.

The program was held on 17th June 2013 at Hotel Shrestha and the award function was conducted by Mr. Vishnu Dev Sai, M.P, Dr. Shakrajit Naik, M.L.A. and Mr. Vijay Goyal, Ex. M.L.A.

It is our immense pleasure and pride fof MSP Group that our Hon’ble Managing Director, Shri Suresh Kumar Agrawal was awarded the trophy of ” THE BEST INDUSTRIALIST ” of Raigarh for his hard work, dedication and his achievements for touching the heights in the Iron and Steel sector by the Jury.