Boya Poojitha
The All India Induction Furnaces Association (AIIFA) and other industry associations have called on the government to simplify the scrap metal GST structure, affecting the entire steel industry in the country, according to an official publication of AIIFA. The scrap steel industry, which makes steel by recycling scrap procured from scrap dealers using the induction furnace route, accounts for nearly 35 percent of the country's total steel production.

“The GST system creates substantial disruption in the supply of metal scrap, a key component in many industrial processes. This contributes to various lawsuits regarding GST that incur large costs and take up considerable time,” says Sudhir Goyal, Member, All India Induction Furnaces Association (AIIFA).

He exhorted the government to consider the industry’s suggestions on introducing reverse charges mechanism (RCM), also distinguish between new and old scrap using separate HSN codes, and notify sale of old scrap under RCM for commercial manufacturers.

The steel industry in India has been an integral part of the country’s economic growth over the past few decades. India’s steel production has grown exponentially, making it one of the world’s leading producers. The country is now home to some of the largest steel mills and plants in the world, which are responsible for producing a wide variety of products ranging from automobile parts to construction materials. This has allowed India to become a major player in global steel markets, as well as providing employment opportunities for thousands of people across the country.

Playing a vital role in shaping the country’s infrastructure, steel industry is set to grow even more in the coming years. With emerging technologies, the industry is expected to experience significant transformation in terms of its production, supply chain, and environmental impact.

In this article, we explore some of the emerging technologies in the steel industry that are expected to drive this transformation.
Artificial Intelligence

AI has the potential to revolutionize the steel industry by enabling proper maintenance, quality control and process optimization. Through machine learning method, AI can analyze vast amounts of data generated by sensors and other equipment to detect patterns and make accurate predictions about equipment failures and maintenance needs. This can help prevent unscheduled downtime and reduce maintenance costs, improving the overall efficiency of steel production.

Additive Manufacturing

Additive manufacturing, also known as 3D printing, is another technology that has the potential to transform the steel industry. With 3D printing, steel parts can be produced in complex shapes and sizes that would be difficult or impossible to achieve with traditional manufacturing methods. This can lead to significant cost savings in terms of material waste, as well as increased efficiency and speed in production. It is a process which helps prepare the whole object at one time. The objects are prepared by breaking down the hardest substance of the material till the object gets perfect structure.

Automation

Automation has been a driving force in the steel industry for many years, but in recent advances, the robotics and other technologies are set to accelerate this process which continues even in the future. By automating tasks such as loading and unloading raw materials and finished products without the help of human beings. It helps in improving the safety measures, reduce labor costs, and increase efficiency. Automation can also improve quality control. It also helps in handling the material substances and lower the waste by eliminating human error in critical tasks.

Internet of Things

The Internet of Things (IoT) helps the network of connected devices and sensors that can collect and share the data in real-time. In the steel industry, IoT can be used to monitor the tools and devices which processes to identify the abnormalities and improves efficient production. It also helps in the maintenance of the production planning.

Big Data Analytics

The steel industry uses large amounts of data on a daily basis, and big data analytics can be used to turn this data into a valuable insight. By analyzing data in detail such as production volumes, quality control measuring, and energy consumption. Companies can identify patterns and aptness which can be used to optimize production processes and reduce costs. Big data analytics can also be used to improve supply chain management. It helps in enabling the companies for better prediction of demand and adjusts the production according to the requirement needed.

In conclusion, these technologies are set to transform the steel industry by improving efficiency, reducing costs, and increasing environmental sustainability. While some of these technologies are still in the early stages of development, they hold great promise for the future of the industry. By embracing these technologies, steel companies can stay ahead of the curve and position themselves for long-term success in a rapidly changing global market.

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