India will soon become the second largest producer of steel in the world. Addressing the World Steel Association Conference in New Delhi today, the Union Steel Minister Beni Prasad Verma said the steel capacity in India has increased from 66 million tonnes in 2009 to 90 million tonnes from in 2012.

The minister said steel production capacity is all set to increase further as steel plants in both public and private sectors have taken up expansion and modernization programs.

AIR correspondent reports, as per the projection, the capacity in the country would grow to around 200 million tonnes by 2020.

Mr. Verma said, the Centre is making efforts to fuel this growth by providing a good investment climate to domestic and foreign steel makers in the country.

He said, a national steel policy is being prepared with the necessary vision and framework for increasing steel production and consumption in India. He said, India will welcome partnerships with leading global steel makers to improve process and product technologies and are always open to new ideas.

The World’s Crude steel production has increased steadily in the past decade from 851 in 2001 to 1,527 million tonnes in 2011.