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New Delhi : National Steel Policy enshrines the long term vision of the government to give impetus to the steel sector.  The policy envisages to create a technologically advanced and globally competitive steel industry that promotes self-sufficiency in steel production as well as economic growth. Steel being a de-regulated sector, the government acts a facilitator, by creating enabling environment for development of steel sector.

Various initiatives taken by the Government are :

(i)        Domestically Manufactured Iron & Steel Products (DMI&SP) Policy with an objective to encourage production and consumption of domestically produced steel.

(ii)       Steel Scrap Policy to enhance the availability of domestically generated scrap.

(iii)      Issuance of Steel Quality Control Orders to prevent manufacturing and  import of non-standardised steel.

(iv)      Steel Import Monitoring System (SIMS) for advanced registration of steel imports.

(v)      Engagement with various stakeholders including industry associations and leaders of domestic steel industry to identify their issues required to be addressed by the Ministries/Departments of the Central Government and State Governments concerned.

(vi)      Engagement with relevant stakeholders including those from the Ministry/ Department of Railways, Defence, Petroleum and Natural Gas, Housing, Civil Aviation, Road Transport and Highways, Agriculture and Rural Development sectors to enhance the overall demand for steel in the country.

(vii)     Inclusion of ‘Specialty Steel’ under the Production Linked Incentive (PLI) Scheme recently announced by the Government

(viii)    Various schemes as notified from time to time to refund or exempt taxes and duties levied on inputs used in export production like Duty Drawback Scheme and Advanced Authorisation Scheme etc. to improve the cost competitiveness of exported items.

This information was given by the Union Steel Minister Dharmendra Pradhan in a written reply in the Lok Sabha  on March 15, 2021, according to a PIB release.