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’”.
 

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