NEW DELHI: The newly-appointed Union Steel Minister Jyotiraditya Scindia on Friday said that India's steel production will double from the current 120 million tonnes to 240 million tonnes in the next eight years, playing a significant role in the nation's economy.

"Steel plays a significant role in the economic growth of any nation. With 120 MT of production, India is currently the second-largest producer of steel in the world. I have faith that we will achieve our goal of doubling it to 240 MT in the upcoming eight years "24 hours after taking on new charge as the steel minister, Scindia told reporters at this location.

"I only assumed leadership of the steel ministry yesterday, so I'm not the one giving lectures without having any background in the industry. I will take my time to fully comprehend the ministry and the industry "While thanking Prime Minister Narendra Modi and other leaders for their confidence in him, Scindia said.

He said, the middle- and small-scale industries contribute significantly to the steel industry, accounting for about 50-52 percent of production through their nearly 3,000 units, he said."I will ensure that the production of steel in India will enhance by taking medium & small industries along with the large units," he said.

Scindia said steel plays a significant role in industries such as construction and automobiles.

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