 "The steel ministry has urged the Ministry of Finance to double the basic Customs duty on imported finished steel products to 15 per cent from the current 7.5 per cent in the upcoming Union Budget for 2025–26, people aware of the matter said.")
At the turn of the 20th century, nations that industrialised rapidly and built strong steel industries gained a significant competitive edge. Steel was not only a product of the primary sector — rooted in mining and raw material processing — but also a vital input for the manufacturing sector, forming the foundation for industrial economies. Its dual role made it indispensable for any country on the path to sustainable development.
Following its Independence, India adopted the model of a mixed economy, aiming to build resilience across primary, secondary, and tertiary sectors simultaneously. Steel emerged as a powerful enabler in this
Disclaimer: These are personal views of the writer. They do not necessarily reflect the opinion of www.business-standard.com or the Business Standard newspaper
