National Policy will make India a quality steel destination: Minister

Steel minister expressed hope on early formation of Arcellor Mittal – SAIL joint venture

GN Bureau | June 19, 2017


#Chaudhary Birender Singh   #National Steel Policy   #ministry of steel   #PSU  
The National Steel Policy (NSP) will focus on ensuring raw material security, import substitution, enhancing steel consumption, R&D of value added steel, said Chaudhary Birender Singh, minister of steel. 
 
Singh, who chaired the second meeting of the recently constituted National Steel Consumers’ Council of the ministry of steel also talked about the policy on preference to domestically manufactured iron & steel products (DMI & SP) to increase the consumption of domestic steel and help the Indian steel makers.
 
He added that the policy will focus on increasing energy efficiency and sustainability, establishing India as cost-effective and quality steel destination, and reducing carbon foot-print of the industry.
 
The Indian steel sector has evolved as the third largest steel producer in world and is poised to become second largest producer putting Indian steel prominently on the map of the global industry. 
 
The minister said that India is one of the fastest growing economies in the world, and steel is used extensively in construction, infrastructure, power, aerospace, industrial machinery and consumer products, and so, the sector is of strategic importance to the country. With the roll out the NSP, it is envisaged that the industry will be steered with appropriate policy support in creating an environment for promoting domestic steel and thereby ensuring that production meets the anticipated pace of growth in demand. 
 
“We have to intensify our research and development efforts for production of value added and special steels including auto grade steel, CRGO, CRNO by 2019-20. It would make India self- reliant in sectors like automobile and defence for which we currently have to depend on imports,” he said. Singh expressed hope on early formation of Arcellor Mittal – SAIL joint venture. “When we can substitute our entire requirements for any kind and quality of steel for being used in our industries it will be truly translating ‘Make in Steel’ for ‘Make in India’”.
 

Comments

 

Other News

Israel-Palestine War: Lessons from Past Peace Efforts

Israel-Palestine War: Give Peace a Chance By Dr. Joseph K. Thomas IndiePress, 243 pages, Rs 399 T

How inner work helps subvert painful narratives

Unashamed By Neha Bhat HarperCollins, 240 pages, Rs 499   * How do I connect better with my partner? *&nbs

Heatwave spikes power demand: measures taken to ensure supply

The Northern Region has been experiencing high power demand conditions due to a prevailing heat wave since May 17. Despite these challenging conditions, the highest ever peak demand of 89 GW in the Northern Region was successfully met on June 17. This achievement was made possible by import

PM to release 17th installment of PM-KISAN at Varanasi on Tuesday

Prime minister Narendra Modi will release the 17th instalment of the PM-KISAN scheme on Tuesday at Varanasi and more than 9.26 crore farmers will receive the benefits amounting to over Rs.20,000 crore. The PM will also distribute the certificates to more than 30,000 SHGs trained as Krishi Sakhis to work as

Taming turbulence in Indian aviation

The booming Indian aviation industry, among the fastest growing sectors in the world, is projected to be valued at $40 billion by 2027. But, despite robust demand for air travel across the country, more than 50 airlines have closed down in the last decade in India and most private airlines have closed with

PM Modi leaves for G7 Summit in Italy

In his first foreign visit after taking oath of office for the third time, prime minister Narendra Modi Thursday evening left for Italy to participate in the G7 Outreach Summit. “At the invitation of Prime Minister Giorgia Meloni, I am travelling to Apulia region in Italy to participat

Visionary Talk: Amitabh Gupta, Pune Police Commissioner with Kailashnath Adhikari, MD, Governance Now


Archives

Current Issue

Opinion

Facebook Twitter Google Plus Linkedin Subscribe Newsletter

Twitter