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Development of the Steel Industry

Information

Ministry of Steel


Posted On:

13 MAR 2023 5:31PM by PIB Delhi


Steel is a deregulated sector and Government’s role is that of a facilitator for

fostering steel sector in the country. Government has taken following measures for development of steel sector:-

  1. Notification of National Steel Policy in 2017 for providing policy support and guidance to steel producers.
  2. Notification of Domestically Manufactured Iron & Steel Products (DMI&SP) Policy for promoting procurement of Made in India Steel by government and public sector projects.
  3. Notification of Steel Scrap Recycling Policy to enhance the availability of domestically generated scrap.
  4. Issuance of Steel Quality Control Orders to prevent manufacturing and import of non-standardized steel and to make available quality steel products to the public.
  5. Mandating advance registrations of steel imports through the Steel Import Monitoring System (SIMS).
  6. Notification of Production-Linked Incentive (PLI) Scheme for Specialty Steel with an outlay of ₹6,322 crores.
  7. Engagement with steel producers including industry associations and leaders of domestic steel industry for address their issues by the concerned Ministries/Departments of the Central Government and State Governments.

  • viii. Engagement with potential users; including from Railways, Defence, Petroleum and Natural Gas, Housing, Civil Aviation, Road Transport and Highways, Agriculture and Rural Development sectors to enhance the steel usage and overall demand for steel in the country.

 

(in million tonnes)

Year

Import

Export

  2019-20

6.77

8.36

  2020-21

4.75

10.78

  2021-22

4.67

13.49

Apr ’22 – Feb ‘23

5.59

5.90

Source: Joint Plant Committee (JPC)

 

Steel being a deregulated sector, decisions regarding modernization and expansion of the various steel plants in the country are taken by the individual steel companies based on commercial considerations and market dynamics. Modernization is a continuous process.

 Since 2017, due to modernization and expansion the capacity of the country has been enhanced from 137.97 MTPA to 154.06 MTPA, as on 31.03.2022.

This information was given by the Union Minister of State for Steel and Rural Development, Shri Faggan Singh Kulaste, in a written reply in the Rajya Sabha today.

 

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AL/AKN