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.
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
Import of coking coal from Canada is likely to rise in future keeping pace with the increase in steelmaking capacity in India, the Steel Ministry said in a statement today.
It is a matter of great satisfaction that National Steel Policy 2017 prepared by steel ministry has been approved by the government for implementation.
Tata Steel has said the focus on infrastructure led growth will not only support the demand growth of steel but will also help achieve world class cost efficiencies.
A new policy that aims to achieve steel making capacity of 300 million tonnes by 2030 with an additional investment of Rs 10 lakh crore got the Cabinet green light today.
The cabinet may clear a proposal on Wednesday to make usage of local steel mandatory for government’s infrastructure projects
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.