The Steel Ministry is likely to get Cabinet’s approval on its proposed National Steel Policy, that will make it mandatory for all infrastructure and construction projects of the government to use locally manufactured steel.
The move will ensure that the sector follows a sustainable path of development, and will boost its capacity to 300 million tonnes by 2030-31.
The proposal aims to increase production and consumption of steel, and is at par with the announcement of higher allocation for infrastructure in the Union Budget of 2017-18.
The global average per capita steel usage stands at 208 kg, whereas India lags much behind at 61 kg. Read More…
Credit By: indiainfoline.com
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