India’s Crude Steel Production Grows By 6% In 2017


India’s Crude Steel Production Grows By 6% In 2017

India’s crude steel production crossed the 100 million tonnes(mt) with a growth of 6.18 percent during last year. The government has taken various remedial measures to promote domestic steel sector which amongst others include trade measures such as anti dumping duties, safeguard duties and temporary introduction of Minimum Import Price; notified Quality Control Order thereby making BIS standards mandatory for all steel products and imports; notified the policy on Domestically Manufactured Iron and Steel Products in Government procurement which facilitates domestic value addition; and notified National Steel Policy, 2017 with a view to encourage long term growth of domestic steel sector. The National Steel Policy, 2017 envisages a crude steel capacity of 300 MT by 2030-31. Read More…

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