More steps needed to make steel sect competitive in international market

Noting that the steel sector is in crisis in the country, the Centre recently said more steps are needed to make it competitive in the international market. “Though the steel sector is decontrolled, the Centre has taken certain steps to help the industry. We have imposed safeguard duty, increased import duty and issued quality control order,” Union Minister of Steel and Mines Narendra Singh Tomar told reporters here after meeting Chief Minister Naveen Patnaik. “Though these steps have been helpful for the steel sector, more needs to be done,” Tomar said.

Stating that the government was aware about the steel being dumped by China and others, Tomar said the Centre would soon take some measures to bail out the steel sector. “You will know once the government takes any action,” he said. Describing the steel sector as the “back bone” of industries in the country, Tomar said the government would take measures to safeguard steel industries. Replying a question, Tomar said there should be no problem of raw materials for steel industries as there was a huge volume of iron ore storage in the country, particularly in Odisha.
Meanwhile, NITI Ayog member V K Saraswat, who had an interaction with the representatives of steel industries and government officials of Odisha here, said “If required, policies and plans for improvement of the steel sector may be undertaken.” Stating that India was targeting to produce 300 million tonnes of steel by 2025, Saraswat said the steel sector has been facing different problems as stated by the industry representatives. He said the Niti Ayog would take stock of the situation in the steel sector from across the country