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PSUs, railways place Rs 8,129 cr orders with domestic steel makers

Press Trust of India  |  New Delhi 

In what could be a big boost to 'Make in India' drive, government PSUs and railways have placed orders for iron and to the tune of Rs 8,129 crore with domestic manufacturers during June 2017 to October 2018, the Ministry of said Friday.

It said with such placement of orders demand for domestic iron and products have witnessed a substantial growth.

"Efforts made by the have ensured placement of orders for domestic iron and steel to the tune of Rs 8,129 crore from June 2017 to October 2018," the said in a statement.

It said the Ministry of Railways, ONGC, GAIL, and have placed orders with domestic iron and steel manufactures for various categories of rails, pipe and tubes.

These products were earlier imported but are now being procured from domestic producers.

"Discussions are on with to increase consumption of rails manufactured indigenously either through SAIL or other domestic manufactures. Efforts are also being made to on-board sectors like Defence and CPWD so that use of manufactured in grows," the statement said.

In order to give preference to domestically manufactured iron and (DMI&SP) in government procurement, had promulgated a Policy, which was notified on May 8, 2017.

To ensure that the policy is implemented in letter and spirit, a Standing Committee under the Ministry of Steel chaired by has been constituted to oversee its implementation, the statement said.

A grievance committee has also been constituted to carry out grievance redressal which may arise while implementing the DMI&SP Policy, it said.

The Ministry of Steel had organised a Conclave in Bhubaneswar in October this year for domestic manufacturers of capital goods meant for the

"In this Conclave MoUs worth Rs 39,400 crore were signed between foreign capital goods manufacturers and with Indian capital goods manufacturers and steel producers," it said.

This will result in the of capital goods for the within the country in the next 4 years. This is a major shot in the arm for the 'Make in India' initiative of the

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Fri, November 09 2018. 18:35 IST