- The Chairman and Managing Director of Gallant Group, also emphasized the need for subsidizing green hydrogen technology to accelerate decarbonization in steel industry
- The ABP Network’s ‘Ideas of India’ Summit 3.0 spotlighting the ‘The People’s Agenda’ brought a confluence of ideas and ideators to a common platform celebrating the country’s people and its plurality
NE BUSINESS BUREAU
MUMBAI, FEB 23
Highlighting the pivotal role played by the steel industry in shaping the landscape of a developed Bharat, Chandra Prakash Agrawal, Chairman and Managing Director of Gallant Group of Industries, stressed the importance of a robust grievance redressal mechanism for addressing issues faced by honest taxpayers and the need for subsidizing green hydrogen technology to accelerate decarbonization in steel manufacturing at the ‘Ideas of India’ Summit 3.0 in Mumbai today.
Speaking during a session titled “India’s Infra Giants: Builders of Viksit Bharat,” he said, “We are on our growth path; we are a population of 1.4 billion. Our buying capacity has improved, and we also have natural resources. We have all that is needed to make ourselves the third-largest economy. But to encourage nation building, it is essential to ensure an efficient redressal system to address the grievances of honest taxpayers. While compliance is focused on, the need for a robust redressal mechanism is necessary for ensuring swift resolution.”
Stressing the need for subsidizing cleaner fuels like green hydrogen for a sustainable steel industry, he added, “The steel industry is energy-intensive as it utilizes fossil fuels like coal, which emit carbon. Today, we are witnessing technologies like green hydrogen, but they are very costly. We expect the government to subsidize green hydrogen to enable the steel industry to benefit from cleaner alternatives and embark on their journey of sustainability.”
While sharing his ideas on the important role of the steel industry and infrastructure development for Viksit Bharat, he also shared how the industry presents huge employment generation opportunities and how the state of Uttar Pradesh now has a conducive environment for setting up businesses easily.
“There is a huge employment generation opportunity in the steel industry. For instance, when we started in Gorakhpur, the area faced problems like criminal activities. When I found the reasons behind such social problems, unemployment was a major reason. Then I thought if I do something, the situation can change, and I am happy that employment generation has positively impacted it. Today, infrastructure has improved in Uttar Pradesh, law and order has improved, and there is zero tolerance for it. Investments are safe, and working in UP is much better compared to previous times. Setting up a new business with the current government is easier,” he elaborated.
The ABP Network’s ‘Ideas of India’ Summit 3.0 spotlighting the ‘The People’s Agenda’ brought a confluence of ideas and ideators to a common platform celebrating the country’s people and its plurality. The two-day summit hosted policymakers, cultural ambassadors, industry experts, celebrities, business leaders, economists, and leading luminaries to delve into the fundamental ideas of liberty, justice, equality, and diversity that define India, its society, culture, and politics. The meaningful deliberations on diverse topics had the brightest minds across sectors providing insights about the nation’s trajectory and its journey to become Viksit Bharat.
