RAJYA SABHA
The Government has formulated a draft National Steel Policy (NSP), which targets a production of over 100 million tonnes by the year 2020. The basic objective of the National Steel Policy is to create enabling conditions for globally integrated Indian Steel Industry and to expand its production base adequately in response to the anticipated increase in domestic and overseas demand in the coming decade.
This was stated by the Minister of Chemicals & Fertilisers and Steel, Shri Ram Vilas Paswan in a written reply to a question in the Rajya Sabha today. On the demand side, the proposed policy seeks to bring supply in line with demand and seeks to create incremental demand for steel. On the supply side, it seeks to increase productive efficiency of the Indian Steel Industry by articulating measures for removing major supply side bottlenecks. The combined effect of all these measures on the supply and demand side would help in containing domestic cost, checking price volatility and increasing international competitiveness of Indian Steel, which in turn would boost steel exports, the Minister added.
(Release ID :5564)