Growth in Steel Sector

Growth in Steel Sector

The Minister of State for Steel and Mines, Shri Vishnu Deo Sai said that data on growth of crude steel production and capacity expansion in the country during the last three years is provided in the table below:-

Indian Crude Steel Production			Capacity expansion
Year	Quantity (million tonnes or mt.)	% change over same period of last year	Quantity (million tonnes or mt.)	% change over same period of last year
2011-12	74.29	5.1	90.87	13.0
2012-13	78.42	5.6	97.02	6.7
2013-14	81.69	4.2	101.02	4.1
Source: Joint Plant Committee (JPC)

 

 
In a written reply in the Rajya Sabha today, Shri Vishnu Deo Sai said that data on crude steel production, sector-wise under the categories, i.e. public and private sector for the last three years is provided in the table below:-
 

Sector-wise Crude Steel Production in Million Tonnes (mt.)
Year	Public Sector	Private Sector	Total
2011-12	16.47	57.82	74.29
2012-13	16.48	61.94	78.42
2013-14	16.78	64.92	81.70
Source: Joint Plant Committee (JPC)

 

 

The Minister said that data on import of total finished steel during the last three years is provided in the table below:-

Imports of total finished steel in Million Tonnes (mt.)
Year	Quantity
2011-12	6.86
2012-13	7.93
2013-14	5.45
Source: Joint Plant Committee (JPC)

 

He said that Steel is a deregulated sector, the role of the Government is that of a facilitator providing a conducive policy environment. However, the Government has taken the following steps to increase the production of steel:-


(i) An Inter Ministerial Group (IMG) has been setup in the Ministry of Steel for effective coordination and expediting implementation of various investment projects in the steel sector.
(ii) A Project Monitoring Group (PMG) has been constituted under the Cabinet Secretariat to fast track various clearances/resolution of issues delaying the investments of Rs.1000 crores or more in the manufacturing/infrastructure sector including the steel sector.
(iii) To increase domestic value addition and improve iron ore availability for domestic steel industry, duty on export of iron ore has been increased to 30%. Recently, the Government has imposed export duty @ 5% ad-valorem on export of iron ore pellets.
(iv) Rates of custom duty on stainless steel flat products have been enhanced from 5% to 7.5% in the Union Budget for 2014-15.