NITI Aayog Suggests Production Of Vanadium For Steel Industry To Support Import Substitution

To support import substitution, India must transit from the R&D stage to production of vanadium domestically for the steel industry, said R Saravanabhavan, Deputy Advisor, NITI Aayog.

He was addressing the Webinar ‘Vanadium Usage in Indian Steel Industry’, organized by FICCI jointly with SRTMI.

“India is a significant consumer of vanadium but is not a primary producer of the strategic metal. It is recovered as a by-product from the slag,” he added.

Highlighting upon the importance of vanadium for the steel industry, he said that India consumes appx 4-5 per cent of the vanadium produced globally, with China accounting for 44-45 per cent of the consumption.

Parmjeet Singh, Additional Industrial Advisor, Ministry of Steel, spoke about the value chain of vanadium usage in steel industry from availability and sourcing of vanadium, production of ferrovanadium and alloying.

Singh also highlighted that vanadium micro-alloyed high strength rebar is a safe, reliable and cost-effective solution for concrete construction in earthquake prone regions, thus serving the society at large.

VR Sharma, Co-Chair, FICCI Steel Committee and Managing Director, Jindal Steel & Power Ltd., while pressing upon the importance and benefits of vanadium for the steel sector he mentioned, “Vanadium finds increased usage in plate manufacturing & various forging applications and have an important role in steel alloying for high strength and toughness applications.”

He also focused on the need for reducing cost and increasing value preposition for enhancing vanadium usage in the sector.

Pankaj Satija, Co-Chair, FICCI Mining Committee and Managing Director, Tata Steel Mining Ltd said that by 2025, 85 per cent of automobiles would have vanadium alloyed steel.

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