STEPS TAKEN TO INCREASE STEEL PRODUCTION IN THE COUNTRY

State-wise details (number and capacity) of steel units (public and private) producing crude steel during 2022-23 is in Annexure.

Steel is a deregulated sector and the role of the Government is that of a facilitator only. Decision regarding the increase of the steel production is taken by individual companies (both public and private) based on market dynamics. However, the following steps have been taken by the Government to increase steel production in the country:

1. Notification of Domestically Manufactured Iron & Steel Products (DMI&SP) Policy to provide preference to domestically manufactured iron and steel products in Government Procurement.
2. Notification of Steel Scrap Recycling Policy to enhance the availability of domestically generated scrap.
3. Notification of Steel Quality Control Orders to prevent manufacturing and import of non-standardized steel and to make available quality steel products to the public at large.
4. Adjustment in Basic Custom Duty on steel products and raw materials along with 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.
5. Production Linked Incentive (PLI) Scheme for specialty steel to promote the manufacturing of 'Specialty Steel' within the country.
6. Further, Government has increased Capital Expenditure to Rs. 10 lakh crores during FY 2023-24, which in turn encourages investments in infrastructure projects. This is expected to boost demand for steel. This is in addition to measures taken by Government to accelerate growth of economy, which, in turn, raises demand for steel and other construction materials.

Annexure

Crude Steel: State Wise, Sector-wise Scenario, 2022-23

Sourch: Joint Plant Committee(JPC)

This information was given by the Minister of State for Steel Sh. Faggan Singh Kulaste in a written reply to a question in Rajya Sabha today.

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YKB