PSU PRESS RELEASE
Steel industry wants minimum import price regime extended
NEW DELHI, JULY 8: With less than a month to go before the minimum import price (MIP) on 173 steel products expires, the domestic industry has written to the Ministry of Steel seeking its extension. The MIP has provided some relief to the industry in the past five months.
“We have written to the Steel Ministry as an industry, the Indian Steel Association has sent the letter requesting an extension of the MIP. Imports are still at around half a million tonne a month which was the level it was before the last year. I think 6-7 million tonnes a year is a sizeable amount of imports,” said TV Narendran, Managing Director, Tata Steel.
According to official data, in the first quarter of fiscal 2016-17, India imported 1.79 million tonnes of steel compared with 2.59 million tonnes in the previous fiscal. However, as compared with 2014-15, the steel imports are six per cent higher.
Read Also : Coal India Organises Training programme for capacity building
News Must Read
- SJVN CMD Geeta Kapur Inaugurates Construction Works at Sunni Dam Project in Himachal Pradesh
- PESB Selects R Veerabahu as Director (Finance) for Braithwaite & Co. Limited
- Grew Energy bags largest order of 200 MW Contract of SECI's Auction
- CPCL Reports 39% YoY Drop in Q4 Net Profit, Declares Rs 55 per Share Dividend
- SJVN Limited inaugurates India's first Multi-purpose Green Hydrogen Pilot Project
- KRDCL, RVNL JV emerges as the Lowest Bidder for Redevelopment of Thiruvananthapuram Central Railway Station
- REC Ltd. has incorporated subsidiary company BPTL
- Hon’ble Vice President of India Confers `Outstanding PSU of the Year’ Award on HAL
- BharatPe Launches India’s first All-in-One Payment Device
- NBCC registers historical Performance in FY2023-24