The steel ministry will soon seek Cabinet nod on a proposed policy

14 Mar 2017

The steel ministry will soon seek Cabinet nod on a proposed policy which will make it mandatory to use locally manufactured steel for all infrastructure and construction projects of the government. The move is aimed at raising domestic steel consumption as India’s per capita steel usage at 61 kg is much lower than the global average of 208 kg.

Steel Secretary Dr. Aruna Sharma said that “The Cabinet note (on the proposed policy) is ready and soon we will move the note for inter-ministerial consultations,”. The proposed policy aims at giving “priority to steel made in India and value additions done in India”,

The government had earlier said it was mulling making domestic steel use binding for government projects.

“Talks are going on with the ministries concerned for introduction of policy to make it mandatory to use India-made steel for all infrastructure and construction projects of the government,” Steel Minister Chaudhary Birender Singh had earlier said during a meeting of the Parliamentary Consultative Committee.

The country’s steel production and consumption are likely to come in higher in 2017-18, backed by an increase in infrastructure allocation in the Budget, a report had earlier said.

Source: PTI