Ministry of Steel taken steps to boost indigenous steel production

Ministry of Steel taken steps to boost indigenous steel production
Image: Ministry of Steel

New Delhi: The Ministry of Steel, Government of India taken various steps to boost indigenous steel production and encourage the domestic steel industry. Currently, India is the world’s 2nd largest producer of crude steel.

  • Nation Steel Policy 2017 notified on 8th May 2017, which envisages domestically meeting the entire demand of steel, high-grade automotive steel, special steels, and alloys for strategic applications.
  • Domestically Manufactured Iron & Steel Products Policy (DMI&SP) to encourage production and consumption of domestically manufactured steel.
  • Inclusion of specialty steel under (PLI) production-linked incentive scheme.
  • Steel Scrap Policy to enhance the availability of domestically generated scrap. 
  • Steel Import Monitoring System (SIMS) for advanced registration of steel imports.
  • Issuance of Steel Quality Control orders to prevent manufacturing and import of non-standardized steel.

The Total Production of Finished Steel April 2020-March 2021 ('000T) is 13318
Private Sector ('000T) :10970
Public Sector ('000T) :2348

Read Also : CMD, IREDA Emphasizes Innovative Financing Solutions for Wind Energy Adoption