Steel Min soon to seek Cabinet nod for new steel policy; focus on MSMEs to be increased

New Delhi, Apr 20 (KNN) Steel Ministry is planning to seek Cabinet’s nod soon on the new steel policy under which there would be enhanced focus on expansion of the MSME sector, improved raw material availability and more.

Union Steel Minister Chaudhary Birender Singh, speaking on the sidelines of Steel Expo organized by FICCI, said the policy seeks to more than double the capacity to 300 million tonnes by 2030.

"We will soon seek the Cabinet nod for the new steel policy that envisages 300 mt steel capacity by 2030 from the current 126 mt. The target may look a little far off, but if we can channelize our energies in the right direction, this is very much achievable," Singh said.

The new steel policy seeks to increase focus on expansion of the MSME sector, improve raw material availability, enhance R&D, reduce imports and manage production cost, and thus develop a technologically advanced and globally competitive industry that promotes economic growth.

"Our vision is to transform the country into a global steel leader, both as steel producer and steel consuming nation," the minister said.

"We need to increase steel production by 10 per cent, exports by 103 per cent and massively reduce imports this year," Singh said.

COMMENTS

Som Sachdeva 21/04/2017 5:01 AM

Karnal is renowned for manufacture of Agricultural Implements since independence and has now spread its wings globally. The main content raw material for this Industry is Iron & Steel and the Spring Wire. During the recent past the rates in the Iron & Steel market have gone up exorbitantly and so much so there is acute shortage of High Carbon Wire Rod from the main producers, manufacturing High Carbon Wire Rod in the country viz. M/S TATA STEEL LTD., M/S JSPL, M/S USHA MARTIN LTD. and M/S MUKAND LTD. PSUs like SAIL & RNIL are not producing High Carbon Wire Rod for this Industry, although the requirement is around 1000 MT per month at Karnal itself. This Industry has not received any supply for the last about one month, hence the production of Cultivators is suffering. Further there is no production in pipeline for the next about 20 days, as is learnt. The critical shortage of High Carbon Wire Rod is hovering upon around 100 units of Agricultural Implements Industry at Karnal. The farmer community in the country shall also face the bad music of this shortage during the ensuing ploughing season, just after the wheat harvesting. Under the circumstance, the authorities are cautioned to take stock of the situation to control the Steel Prices in the market and at the same ensure regular flow of High Carbon Wire Rod either from the main producers named above or else impress upon the PSUs like SAIL and RINL to manufacture High Carbon Wire Rod also to bridge the gap in supply position in the market. KAIMA Association, also approached Steel Minister to seek appointment from Ch. Birender Singh, Hon’ble Minister for Steel , to elaborate the ground reality so as to have a remedy and come of the dilemma.

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