Strategic initiatives to strengthen India's position in global steel market - Union Minister

To strengthen India's position in the global steel market, Union Minister for Steel and Heavy Industries, H. D. Kumaraswamy, has outlined a series of strategic initiatives. In response to parliamentary queries, the Minister emphasised the government's focus on creating a conducive policy environment and facilitating the growth of the steel sector, which remains de-regulated.

Key measures include

• The Domestically Manufactured Iron & Steel Products (DMI and SP) Policy, which promotes the use of 'Made in India' steel for government procurement. This initiative boosts domestic production and supports local manufacturers. Additionally, the Production Linked Incentive (PLI) Scheme for specialty steel aims to attract capital investments worth INR 29,500 crores, creating an additional capacity of around 25 million tonnes (mnt) for specialty steel. This scheme is designed to enhance domestic manufacturing and reduce dependency on imports.
  
  
• The Ministry of Steel has also launched 16 process-based safety guidelines to standardise safe practices in operations, thereby improving productivity. The revamped Steel Import Monitoring System (SIMS 2.0) enhances the monitoring of imports, addressing concerns of the domestic steel industry and ensuring better regulatory control.
  
  
• Initiatives like Make in India and the PM Gati-shakti National Master Plan further engage potential users from various sectors such as Railways, Defence, and Civil Aviation, promoting steel usage and driving demand. Coordination with different ministries, states, and international entities ensures the availability of raw materials on favourable terms, supporting the steel production process.
  
  
• To enhance the availability of domestically generated scrap, the government has notified the Steel Scrap Recycling Policy and the Motor Vehicles (Registration and Functions of Vehicles Scrapping Facility) Rules. These measures aim to increase scrap availability, reducing reliance on coal and supporting the steel industry's decarbonisation efforts.
  
  
• The notification of 145 Steel Quality Control Orders ensures the production and import of standardised steel, providing quality products to the public. Additionally, the government has taken steps to reduce the steel industry's carbon footprint, such as engaging 14 task forces to explore decarbonisation levers, promoting the National Green Hydrogen Mission, and encouraging the adoption of the Best Available Technologies (BAT) globally.
  
  

India, having become the world's second-largest steel producer in 2018, continues to solidify its position through these comprehensive measures, aiming for sustainable growth and enhanced global competitiveness in the steel market.