New policy to help, but core sector must use more steel

The policy is the second initiative by the Centre to revive the steel industry

The National Steel Policy approved by the Cabinet on Wednesday accords preference to locally manufactured steel in infrastructure projects but this can only work if there is an increase in the component of steel used in such projects.

Steel comprises just 10 per cent infrastructure projects in India though internationally the figure is 40-45 per cent. 

According to experts, demand for steel in the country has plateaued and can be pushed up by infrastructure development. 

The policy will focus on increasing the country’s annual steel production to 300 million tonnes by 2025, involving an investment of Rs 10 lakh crore by 2030-31. This