Minimum 15% value addition must for buying imported steel
Imported steel must undergo a minimum prescribed value addition of 15 per cent in order to be eligible for procurement by government departments, the steel ministry said on Tuesday.
"All imported steel must undergo a minimum prescribed value addition of 15 per cent ... in order to be eligible for bidding under the policy," the ministry said in a statement.
The government in May had approved the Domestically Manufactured Iron & Steel Products Policy for providing preference to locally produced iron and steel products. The policy mandates to provide preference to domestic products in government procurement.