Home » Parliament » Investment in Steel Sector

Investment in Steel Sector

Steel being a de-regulated sector, the Government acts as a facilitator, by creating enabling environment for development of the sector.  National Steel Policy, 2017 has mission to provide environment for attaining “self sufficiency” in steel production by providing policy support and guidance to steel producers. Further, the action taken includes the following:-

  • i. A Project Development Cell (PDC) has been established in the Ministry which is engaged in identifying projects to facilitate new investments, evaluating the pipeline of projects and taking necessary steps to fast-track their implementation.
  1. Notification of Production-Linked Incentive (PLI) Scheme for Specialty Steel with an outlay of Rs. 6,322 Crore to promote the manufacturing of specialty steel within the country for domestic use and export by attracting Capital investments.
  2. Participation in events like world expo held recently in Dubai, interaction of Ministerial delegation with domestic steel users in Japan, Korea, Russia to highlight the expertise of the steel sector in India and showcase an array of investment opportunities as well as business potential in India’s Steel sector.
  3. Make in India initiative and the PM Gati-shakti National Master Plan with further engagement with potential users, including from Railways, Defence, Petroleum and Natural Gas, Housing, Civil Aviation, Road Transport and Highways, Agriculture and Rural Development sectors to enhance the steel usage, overall demand for steel and investment in steel sector in the country.
  4. Adjustments in Basic Custom Duty on steel products and raw materials along with calibration of trade remedial measures like Anti-dumping duty (ADD), Countervailing duty (CVD) on certain steel products to enhance competitiveness of India’s steel sector.

vi.  Salem Steel Plant is under Strategic disinvestment which was approved by ‘in-principle’ by the Union Cabinet on 27th Oct’2016.

India is the 2nd largest producer of Crude Steel in the world and Crude Steel capacity in 2019-20 was 142.299 mt(million tonnes) which is increased to 154.062 in 2021-22.   The details of capacity for the last three years State wise and year-wise are given below:-

Crude Steel: State Wise Capacity(‘000t)
State 2019-20 2020-21 2021-22
Andhra Pradesh 8391 8614 8512
Arunachal Pradesh 125 125 72
Assam 131 131 163
Bihar 803 830 812
Chhattisgarh 18785 19191 20900
Dadra and Nagar Haveli 296 168 286
Daman and Diu 46 46 50
Delhi 16 16 16
Goa 481 405 495
Gujarat 12754 13688 13512
Haryana 953 1037 1056
Himachal Pradesh 1139 1144 1740
Jammu and Kashmir 189 189 189
Jharkhand 19707 19488 20506
Karnataka 15149 15261 14249
Kerala 480 480 473
Madhya Pradesh 553 457 987
Maharashtra 11961 12030 18038
Meghalaya 181 181 201
Odisha 25370 25330 24587
Puducherry 340 364 451
Punjab 4924 5064 5506
Rajasthan 1176 1005 933
Tamil Nadu 3766 3722 3744
Telangana 1443 1605 2033
Tripura 30 30 30
Uttar Pradesh 1617 1617 1606
Uttarakhand 1559 1524 1512
West Bengal 9935 10172 11403
Total 142299 143914 154062
Source: Joint Plant Committee(JPC)

 

The information was given by the Minister of State for Steel and Rural Development Shri Faggan Singh Kulaste in a written reply in Lok Sabha

About IIPnews

Leave a Reply

Your email address will not be published. Required fields are marked *

*

x

Check Also

Data on Employment in MSMEs

As per Udyam registration portal, the number of persons employed in the MSMEs which are ...

Contribution of MSMEs and Cottage Industry to GDP

As per the information received from Ministry of Statistics and Programme Implementation, the share of ...

Details of Fund Collected Under District Mineral Foundation by Different States

The Central Government under Section 20A of the MMDR Act has issued directions and circulated ...

Plastic Recycling Targets

Unmanaged and littered plastic waste including plastic packaging waste has adverse impacts on terrestrial and ...

New Airports Constructed and Upgraded

The Government has accorded ‘In-principle approval’ for setting up of 21 Greenfield Airports across the ...

25 Airports Authority of India airports have been earmarked for leasing over the years 2022 to 2025.

As per National Monetization Pipeline (NMP), 25 Airports Authority of India (AAI) airports namely Bhubaneshwar, ...

Policy for Promotion of Software Exports

As per National Association of Software & Services Companies (NASSCOM), exports from Indian Information Technology/ ...

Measures taken by Government to boost exports

The Government has taken the following measures to boost exports and reduce trade deficit: Foreign ...

Import of Food grains and Value-Added Food Products

Import as well as export of agri commodities including food-grains & value-added food products etc. ...

Efforts to Curb Illegal Mining

The Government has vested power in the State Governments for enacting laws to check illegal ...

WP2Social Auto Publish Powered By : XYZScripts.com