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Raw material security, R&D thrust areas for steel industry: Steel Minister

To enhance steel consumption, the Ministry to focus on construction and manufacturing sectors

BS B2B Bureau  |  New Delhi 

Chaudhary Birender Singh (left) at the National Steel Consumers' Council meeting
Chaudhary Birender Singh (left) at the
National Steel Consumers’ Council

Chairing the second meeting of the recently constituted National Consumers’ Council in Bhubaneswar yesterday, Minister of Steel, stated that raw material security, import substitution, enhancing consumption and focus on R&D were some of the thrust areas for Indian industry.

Indian sector has evolved as third largest producer in world and is poised to become second largest producer putting Indian prominently on the map of the global industry.

The Minister said, “India being one of the fastest growing economies in the world, and finding its extensive application in areas like construction, infrastructure, power, aerospace, industrial machinery and consumer products, the sector is of strategic importance to the country. Owing to the significance of the sector and dynamic scenario in sector, the Government came up with National Policy (NSP) 2017. With the roll out the New Policy, it is envisaged that the industry will be steered with appropriate policy support in creating an environment for promoting domestic and thereby ensuring that production meets the anticipated pace of growth in demand.” 

Outlining the thrust areas of National Policy he said, the NSP would focus on ensuring raw material security, import substitution, enhancing consumption, R&D of value added steel, increasing energy efficiency and sustainability, establishing India as cost-effective and quality destination, and reducing carbon foot-print of the industry. Singh also elaborated on the policy on preference to Domestically Manufactured Iron & products (DMI & SP) which will cause increase in the consumption of domestic and help the Indian makers. 

To enhance consumption, Ministry has identified and sectors like rural development, urban infrastructure, roads & highways, railways etc. to be the key focus areas. The Ministry has also intensified its research and development efforts for production of value added and special steels including auto grade steel, CRGO, CRNO, etc. by 2019-20. "This would make India self-reliant in sectors like automobile and defence for which the country currently has to depend on imports," he added.

First Published: Sat, June 17 2017. 12:28 IST
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Raw material security, R&D thrust areas for steel industry: Steel Minister

To enhance steel consumption, the Ministry to focus on construction and manufacturing sectors

To enhance steel consumption, the Ministry to focus on construction and manufacturing sectors
Chairing the second meeting of the recently constituted National Consumers’ Council in Bhubaneswar yesterday, Minister of Steel, stated that raw material security, import substitution, enhancing consumption and focus on R&D were some of the thrust areas for Indian industry.

Indian sector has evolved as third largest producer in world and is poised to become second largest producer putting Indian prominently on the map of the global industry.

The Minister said, “India being one of the fastest growing economies in the world, and finding its extensive application in areas like construction, infrastructure, power, aerospace, industrial machinery and consumer products, the sector is of strategic importance to the country. Owing to the significance of the sector and dynamic scenario in sector, the Government came up with National Policy (NSP) 2017. With the roll out the New Policy, it is envisaged that the industry will be steered with appropriate policy support in creating an environment for promoting domestic and thereby ensuring that production meets the anticipated pace of growth in demand.” 

Outlining the thrust areas of National Policy he said, the NSP would focus on ensuring raw material security, import substitution, enhancing consumption, R&D of value added steel, increasing energy efficiency and sustainability, establishing India as cost-effective and quality destination, and reducing carbon foot-print of the industry. Singh also elaborated on the policy on preference to Domestically Manufactured Iron & products (DMI & SP) which will cause increase in the consumption of domestic and help the Indian makers. 

To enhance consumption, Ministry has identified and sectors like rural development, urban infrastructure, roads & highways, railways etc. to be the key focus areas. The Ministry has also intensified its research and development efforts for production of value added and special steels including auto grade steel, CRGO, CRNO, etc. by 2019-20. "This would make India self-reliant in sectors like automobile and defence for which the country currently has to depend on imports," he added.

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Business Standard
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Raw material security, R&D thrust areas for steel industry: Steel Minister

To enhance steel consumption, the Ministry to focus on construction and manufacturing sectors

Chairing the second meeting of the recently constituted National Consumers’ Council in Bhubaneswar yesterday, Minister of Steel, stated that raw material security, import substitution, enhancing consumption and focus on R&D were some of the thrust areas for Indian industry.

Indian sector has evolved as third largest producer in world and is poised to become second largest producer putting Indian prominently on the map of the global industry.

The Minister said, “India being one of the fastest growing economies in the world, and finding its extensive application in areas like construction, infrastructure, power, aerospace, industrial machinery and consumer products, the sector is of strategic importance to the country. Owing to the significance of the sector and dynamic scenario in sector, the Government came up with National Policy (NSP) 2017. With the roll out the New Policy, it is envisaged that the industry will be steered with appropriate policy support in creating an environment for promoting domestic and thereby ensuring that production meets the anticipated pace of growth in demand.” 

Outlining the thrust areas of National Policy he said, the NSP would focus on ensuring raw material security, import substitution, enhancing consumption, R&D of value added steel, increasing energy efficiency and sustainability, establishing India as cost-effective and quality destination, and reducing carbon foot-print of the industry. Singh also elaborated on the policy on preference to Domestically Manufactured Iron & products (DMI & SP) which will cause increase in the consumption of domestic and help the Indian makers. 

To enhance consumption, Ministry has identified and sectors like rural development, urban infrastructure, roads & highways, railways etc. to be the key focus areas. The Ministry has also intensified its research and development efforts for production of value added and special steels including auto grade steel, CRGO, CRNO, etc. by 2019-20. "This would make India self-reliant in sectors like automobile and defence for which the country currently has to depend on imports," he added.

image
Business Standard
177 22