ENA MSME 2025-01-08 16:29:07 <p><span style="font-size:14px"><strong>New Delhi, Jan 8 (KNN)</strong> India's National Steel Policy, launched in 2017, is credited to have catalysed significant growth in the domestic steel sector, leading to the establishment of 305 new steel units, including Micro, Small, and Medium Enterprises (MSMEs), over the past five years. </span></p> <p><span style="font-size:14px">The policy aims to boost the country's steel production capacity to 300 million tonnes (MT) by 2030, while targeting a per capita consumption of 160 kilograms.</span></p> <p><span style="font-size:14px">Gujarat has emerged as the leading state in this expansion, setting up 68 new steel units since 2017. Following Gujarat's lead are Chhattisgarh with 33 units, Punjab with 32 units, Tamil Nadu with 23 units, Maharashtra with 22 units, and West Bengal with 21 units, according to data released by the steel ministry.</span></p> <p><span style="font-size:14px">As of fiscal year 2024, India has achieved a total crude steel capacity of 179 MT, with actual demand and production reaching 144 MT. </span></p> <p><span style="font-size:14px">The finished steel sector reports demand and production figures of 138 MT, while per capita finished steel consumption has reached 97.7 kg, showing progress toward the projected consumption target of 158 kg by 2030-31.</span></p> <p><span style="font-size:14px"> In a significant development, Steel Minister HD Kumaraswamy announced in December 2024 that the government is evaluating the implementation of a 25 percent safeguard duty on certain steel product imports. </span></p> <p><span style="font-size:14px"> This proposal has prompted concerns among MSME users and exporters, with Federation of Indian Export Organisations (FIEO) Director General Ajay Sahai emphasising the need to prevent domestic steel companies from raising input prices, which could adversely affect exports of value-added steel products.</span></p> <p><span style="font-size:14px">Recent trade data shows a notable decline in India's iron and steel imports, which decreased by 28 percent to USD 1.7 billion in November compared to USD 2.4 billion in the previous year. </span></p> <p><span style="font-size:14px">Federation of Indian Micro and Small &amp; Medium Enterprises (FISME) has opposed the proposal to impose safeguard duties on Steel and such duties have been used to increase base price of steel in India rendering large number of user MSMEs uncompetitive.</span></p> <p><span style="font-size:14px"><em><strong>(KNN Bureau)</strong></em></span></p> 40567 https://knnindia.co.in/news/newsdetails/msme/national-steel-policy-credited-with-305-new-units-amidst-rising-protection-concerns 2025-01-08 16:29:07 knnindia.co.in