Business/ News Measurements Network
The country's steel plant, which performed the best for the year 2016-17, was awarded the 25th Prime Minister Trophy and Steel Minister Trophy in the capital. On this occasion, Tata Steel Limited, Jamshedpur Works was awarded the Prime Minister's Trophy. In addition to this, a cash prize of Rs 2 crore was also given for overall performance. Tata Steel has set a new record in the domestic steel industry in the year 2016-17.
On this occasion, a cash reward of Rs 1 crore was given to JSW Steel Limited, Vijayanagar along with the Steel Minister trophy. From the Ministry of Steel, Prime Minister Trophy and Steel Minister Trophy were given to Tata Steel to manufacture new models of productivity, economic, innovation and research, and development. Those trophies provided to the steel plant, are ahead in recording financial records and productivity compared to other plants.
The award was given by the Union Steel Minister, Chaudhary Virendra Singh to the winners. During this, the Union Minister said that India has become the second largest producer of steel in the world. By the year 2030-31, the target of crude steel capacity has been fixed at 300 million tonnes. He said that several steps have been taken in the last few years to promote domestic steel. Apart from this, special emphasis has been laid on the safety of the employees.
On this occasion, the Union Minister congratulated the winners. He said that the honor given in the form of the trophy will encourage future work to progress further. The Indian steel industry has seen huge fluctuations in the past few years. These awards were instituted in 1992-93 for outstanding excellence and outstanding performance in the industry. This time in 2016-17, it was the 25th year when the Prime Minister's Trophy was awarded. Earlier this year Tata Steel has been honored many times with this award.