New Steel Policy

Proposed steel policy seeks AI-led detection of sub-standard steel imports

The draft steel policy seeks to put in place an AI-powered governance framework and advanced data analytics to ensure early detection of abnormal import trends and boost the competitiveness of the domestic steel industry. According to the draft National Steel Policy Vision 2047, a three-pronged strategy centred around quality assurance, fair trade and domestic capability should be adopted to reduce avoidable import dependence, strengthen India's steel ecosystem and enhance the competitiveness, resilience and long-term growth of both the steel industry and downstream manufacturing sectors. The proposed policy seeks to build a roadmap for the Indian steel industry until 2047. The government has proposed a new policy as the earlier National Steel Policy 2017 needed a relook considering the current challenges and requirements of the steel sector. Emerging priorities like artificial intelligence, machine learning and technical upgrades require greater focus. Besides scaling up the ...

Draft steel policy eyes nearly threefold rise in capacity by 2047

Roadmap envisages major expansion in slurry pipelines with support from viability gap funding, a 39 per cent cut in emission intensity, 45 MT exports and measures to expand scrap use

Govt releases draft National Steel Policy 2047, targets 604 MT capacity

The government has released a new steel policy to boost India's crude steel capacity to 604 million tonnes by 2047, enhance industry competitiveness and address key import challenges. According to the draft National Steel Policy 2047, finished steel demand will rise to 505 MT by 2047, per capita consumption to 302 kg and steel exports to 45 MT. Raw materials account for around 65-70 per cent of steelmaking costs. While India is largely self-sufficient in iron ore, it imports nearly 92 per cent of its coking coal requirement. The policy seeks to reduce import dependence through domestic mining, washery expansion, asset acquisition, long-term supply arrangements, and AI-based optimisation of coal blends. Other raw materials important for the steel sector, like Manganese, Limestone etc., will also remain in policy focus to ensure long-term resource sustainability. The secondary steel sector, comprising around 2,550 units and nearly 47 per cent of crude steel production capacity, wil

New steel policy eyes 600 MT capacity, 500 MT consumption: Steel secretary

The government also plans a ₹5,000 crore Viksit Bharat Ispat scheme for small producers, with incentives linked to output and lower carbon emissions

Govt looking to set up two steel plants to process scrapped steel

The union government is planning to set up one such unit each in the north and south India

New steel policy: Govt panel addresses stakeholders' concerns

The ministry of railways sought exclusion of rail from the list of iron and steel products

Banking on bailouts

Steel policy has set unrealistic goals

New steel policy to make steel industry competitive, says PM Narendra Modi

Prime Minister Narendra Modi today expressed optimism that the new policy on steel will boost its domestic consumption and create a globally competitive industry. "The National Steel Policy will ensure high quality steel production, boost domestic consumption and create a globally competitive steel industry," Modi said in a tweet. The policy reflects long-term vision for transformation of the steel sector, the prime minister said on the microblogging site. The new policy that aims to achieve steel-making capacity of 300 million tonnes by 2030 with an additional investment of Rs 10 lakh crore got the Cabinet green light yesterday. The policy will help in realigning the enablers in paving the way for India to realise its potential by creating modern infrastructure and meeting the aspirations of its young population, said Tata Steel MD (India & SEA) T V Narendran in a statement. "We look forward to the implementation of the policy and the forecast growth of

New steel policy to counter Chinese dominance

The Centre is in the process of framing a new steel policy to counter Chinese dominance in the sector. The new policy would also seek to augment domestic production and concurrently increase the per capita steel consumption in the country.Chairman of the Standing Committee on Government Assurances Ramesh Pokhriyal Nishank said here the domestic steel producers should rise to the occasion and match the cost competitiveness of the Chinese steel companies. He was in the city recently for a meeting of the committee, which discussed issues of steel, insurance, fertiliser, etc.Without disclosing specific details, the former Uttarakhand chief minister informed the policy would soon be announced after due consultative process."For a large country like India, it is imperative to be self-reliant in the steel sector. When the Chinese steel companies can achieve cost-competitiveness, there is no reason why domestic producers cannot match them," Nishank added.India is amongst the largest global st