Modi government’s National Steel Policy saved the country Rs 5,000 crores forex


Modi government’s National Steel Policy saved the country Rs 5,000 crores forex

Steel Secretary Aruna Sharma stated that government’s National Steel Policy has saved foreign exchange of Rs 5,000 crores since last year and has added around 24 million tonnes of crude steel capacity during the last four years.

The Secretary added that in this year India also replaced Japan as the second largest steel producer. Sharma also said that the national steel policy announced last year had the target set at raising the capacity 300 MT by 2030 and produce 250 MT of crude steel.

The steel production capacity has been steadily rising under the Modi Government. It increased from 110 MT in 2014-15 to 134 MT in 2017-18, while 7 MT was added in 2017 alone, Sharma pointed out in an interview on achievements and initiatives taken by Ministry Of Steel in past four years.

While talking about steel exports, she stated that in the financial year 2017, India became a net exporter of steel with a significant export of 8.2 MT registering 102 percent growth over the previous fiscal year.  Read More

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