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New steel policy will turn our Make In India, Steel in India dreams to reality: Birendra

 Simontini Bhattacharjee |  2017-05-04 17:44:27.0  |  New Delhi

New steel policy will turn our Make In India, Steel in India dreams to reality: Birendra

The national steel policy, 2017 will give a shape to the Make In India and the Steel In India," Union Minister of Steel Chaudhary Birender Singh mentioned while briefing media here on Thursday.

To revamp the preference to domestically manufactured steel products in government-sponsored projects and to aim to triple the production capacity over the next 13 years the cabinet passed the policy on Wednesday. While elaborating the holistic approaches Singh assured that the government with sustainable agencies will monitor the techno-economic performance of all steel plants in every six months.

The ministry also welcomed more FDIs and the Joint Secretary Aruna Sharma added, "Transfer of technology or production of automotive steel and other special steels will be facilitated by setting up joint ventures with global organizations."

The minister also asserted that the further investment ratio will remain same between PSUs, government and other private organizations, but will be curtailed for PSUs in terms of infrastructure. "10% of the allotted budget for infrastructure, Rs. 4 Lakh Crore will be invested in the domestic production of steel," Singh added.

The main focus is on urban development, rural development, roads and highways, car manufacturing, railways etc. Science is also another prime area.

The ministry has also focused on the availability of washeries coal, pellets and import of coking coal. According to the government, the pelletization and washeries will save 1/4 foreign import of coking coal and increase utilization of 20-25% domestic coal. The government is also in talk to shift Jharia as a smart city as the area could be major block for coking coal in India.

Meanwhile, the committee led by Cabinet secretary will measure the steel cluster proposal, where the government is seeking co-operation of PSUs and all stakeholders in providing lands and its vertical utilization, Joint Secretary Aruna Sharma said.

The minister also assured that WTO compliances will be maintained and 33 products have already been notified under the mandatory quality certification mark scheme of BIS.

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