Bookmark Kaumudi Online  Bookmark this site  Editor@Kaumudi  |  Marketing  Print Advt rates  |  Calendar 2012        Go!    
 
 
June 28, Wednesday 2017 7:43 PM       

       HEADLINES: Attack on actress: Govt is with the victim, says Kodiyeri                                              Pulsar Suni hid phone in kitchen                                              Half done things will be completed, says Behera                                              Dileep’s remark against actress mysterious, says Women’s commission                                              'Suni offered Rs 2 lakh to blackmail Dileep'                                              Operations at Jawaharlal Nehru port in Mumbai hit by ransomware                                              Aadhaar-PAN linking must from July 1, govt notifies rules                                              Junaid Khan lynching: Four more including 50-yr-old arrested                                              JIT to interrogate Sharif's daughter Maryam Nawaz in Panama case                                              China claims Indian troops crossed border, blocks pilgrims                                              Modi, Trump vow to fight terrorism                                              Abducted priest seen alive as Islamists hold out in Philippines                                              Macron says France will not recognise Crimea 'annexation'                                              Bumrah rises to second spot in T20 rankings                                              India finish second in Junior Shooting World Championship                                              Kumble-Kohli rift should've been handled better: Ganguly                                              Aditi Ashok records career-best finish on LPGA tour                                              Jeevan's life: lucky, unlucky and lucky again                                              Kaumudi Facebook
       BUSINESS Next Article: MPC meet begins; RBI likely to hold policy rate  
       Use of domestic steel may be mandatory for govt infra projects
 
         Posted on :19:52:39 Apr 5, 2017
   
A A
       Last edited on:19:52:39 Apr 5, 2017
         Tags: Use of domestic steel may be mandatory for go
 
NEW DELHI: India is likely to mandate use of domestic steel for government infrastructure projects to boost demand for local companies and check cheaper imports.
 
The Steel Ministry is likely to take to the Union Cabinet this month a proposal that seeks to provide preferential treatment to steel made in India in government projects.
 
It may also seek Cabinet approval for the National Steel Policy (NSP), 2017 which seeks to double production as well as consumption and put forth strategies to overcome challenges like high input costs and financial stress facing the sector.
 
"We want to promote and encourage the growth of domestic steel industry and so we want that India-made steel should be given preference in government funded projects. A draft Cabinet note has already been initiated," Steel Minister Chaudhary Birendra Singh said here.
 
He was addressing a national conference of secondary steel producers.
 
Asked whether the government plans to make it mandatory or on preferential basis, Singh said: "This should be taken on a preference basis. In government ministries and departments where the consumption of steel is more, like Railways, I want that on the preference basis, they should use steel made in India and it should be made part of the tender."
 
Singh added however that steel which is not available in the country can be imported.
 
There would be a quantum jump in the steel consumption once the proposal is approved, he said, adding Railways, urban housing, shipping and national highways are big customers.
 
The government, he said, will spend Rs 4 lakh crore on infrastructure projects, which will boost steel demand.
 
On the new steel policy, Singh said: "We have already released the draft policy. We have also received feedback from stakeholders. We will include any good suggestions made by secondary steel producers. In this month only, we will send it to the Cabinet for approval".
 
Through this policy, he said, the government plans to more than double the steel production capacity and per capita consumption from the present level.
 
In January, the ministry had released the draft policy to ensure that the steel sector follows a sustainable path of development in respect of augmenting capacity to 300 million tonnes by 2030-31 in environment friendly manner.
 
It is an effort to steer the industry to achieve its future potential and strategy to deal with various impediments like high input cost, availability of raw materials, dependency on imports and financial stress.
 
"India is going to become the second largest steel producer in the world by 2018," he said.
Steel Secretary Aruna Sharma said the country's steel production is estimated to rise 11 per cent at over 90 million tonnes, while exports increased 57 per cent last fiscal.
 
Imports are estimated to have declined by 34 per cent, she added.
 
Singh said the steel industry has to become a growth enabler for the manufacturing industry and also a catalyst for the 'Make in India' campaign.
 
"We are looking at new areas where steel use can be promoted based on steel’s inherent strengths. Steel crash barriers, railway sleepers, bridges, roads, houses, buildings, community centres and other such end-use segments are being explored," he added.
 
He said secondary steel producers are important as they account for 57 per cent of the total output and provide huge employment compared to integrated plants.
 
He asked all segments of secondary steel sector to come together under a single apex organisation to collectively present their issues and concern to key stakeholders.
 
Earlier, Housing and Urban Development Minister M Venkaiah Naidu said 'Make in India' campaign has identified 25 sectors in manufacturing, infrastructure and service activities as the focus areas to drive the economy.
 
For at least 9 of these sectors like automobile, defence, railways and construction, steel plays a crucial role in their competitive edge, he said.
 
"Steel is also a crucial component in the successful implementation of the government’s other flagship programmes like 'Smart Cities Mission' and 'Housing for All'," he added.
 
In India, Naidu said, the steel sector has an output multiplier effect of nearly 1.4 times on GDP and employment multiplier factor of 6.8. India today stands as the 3rd largest producer of steel in the world, after China and Japan.
 
"The steel sector employs about 25 lakh people and the draft National Steel Policy 2017, expects at least 11 lakh new jobs being created by 2030-31," Naidu said. 
 
A A
       BUSINESS
Next Article: MPC meet begins; RBI likely to hold policy rate
 
 
BUSINESS HEADLINES
EU fines Google $2.72 bn for breaching antitrust rules  
Sensex drops most in one month, banks take a beating  
Sensex, Nifty take a selling hit, reverse gear  
EU to slap Google with record fine this week: sources  
Kerala govt investing Rs 50,000 cr on infra projects: Issac  
AI privatisation welcome but clear salary dues first: Pilots  
Rupee halts 3-day slide v/s USD; up 7 paise at 64.52  
Spice GST Suvidha provider is all geared up for July 1st  
Sensex tumbles 153 pts on profit-booking  
Sensex hits all-time high of 31,522  
RBI to keep rates unaltered in near term: D&B  
Sensex surrenders record gains on GST blues, mixed global cues  
GST to be rolled at midnight June 30: Jaitley  
India plans SAARC meet for startups: Nirmala  
Rupee gains 11 paise against dollar, stocks play anchor  
"Rs 700 cr worth of Momentum Jharkhand proposals implemented"  
JK govt to seek complete consensus before GST implementation  
Mobile data consumption rose 142% in last 3 yrs: Kant  
Gold loses sheen on weak global cues, muted demand  
Rupee opens lower by 15 paise against dollar  
Nifty ends below 9,600 post Fed rate hike  
Paytm, 1mg offer discounts ahead of GST  
Customers may get Rs 5,000 if int'l SIM card fails  
Sensex closes higher, Nifty advances as inflation cools  
RBI issues new Rs.500 bank notes with inset letter 'A'  
 
Do you think there is conspiracy against Dileep?
yes
 
no
 
don't know
 
 
 
Home Kerala India World Business Sports Sci&Tech Education Automobile CityNews Movies Environment Letters 
© Copyright keralakaumudi Online 2011  |  Reproduction in whole or in part without written permission is prohibited.
Head Office Address: Kaumudi Buildings, Pettah P.O, Trivandrum - 695024, India.
Online queries talk to Deepu Sasidharan, + 91 98472 38959 or Email deepu[at]kaumudi.com
Customer Service -Advertisement Disclaimer Statement   |  Copyright Policy