The Government has taken following measures for increasing
investment and export in the Steel sector: -
i.
Notification of :-
a.
National Steel Policy 2017
which envisages, inter-alia, domestically meeting the entire demand of steel
and high-grade automotive steel, electrical steel, special steel and alloys for
strategic applications.
b.
Domestically Manufactured Iron
& Steel Products (DMI&SP) Policy for promoting procurement of Made in India steel. .
ii.
‘Make in India’ initiative and
the PM Gati-Shakti National Master Plan, with further
engagement with potential users, including from Railways, Defence, Petroleum
and Natural Gas, Housing, Civil Aviation, Road Transport and Highways,
Agriculture and Rural Development sectors to enhance the steel usage, overall
demand for steel and investment in steel sector in the country.
iii.
Adjustments in Basic Custom
Duty on steel products and raw materials alongwith
calibration of trade remedial measures like Anti-dumping duty (ADD),
Countervailing duty (CVD) on certain steel products to enhance competitiveness
of India’s steel sector.
iv.
Participation in events like
World Expo, held recently in Dubai, to highlight the expertise of the Steel
sector in India and showcase an array of opportunities as well as business potential
in India’s steel sector.
This information was given by the Minister of State for Steel, Faggan Singh Kulaste in a written
reply in the Lok Sabha on 27 July, 2022.