1.5 Lakhs + investment in steel sectors

December 14, 2022 India Ties Business, Investments Comments Off on 1.5 Lakhs + investment in steel sectors

Dec 14: Steel being a de-regulated sector, the Government acts as a facilitator, by creating enabling environment for the development of the sector.  National Steel Policy, 2017 has a mission to provide an 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 the world expo held recently in Dubai, and interaction of Ministerial delegation with domestic steel users in Japan, Korea, and 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 the steel sector in the country.
  4. Adjustments in Basic Customs 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 the competitiveness of India’s steel sector.

vi.  Salem Steel Plant is under Strategic disinvestment which was approved ‘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 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)
State2019-202020-212021-22
Andhra Pradesh839186148512
Arunachal Pradesh12512572
Assam131131163
Bihar803830812
Chhattisgarh187851919120900
Dadra and Nagar Haveli296168286
Daman and Diu464650
Delhi161616
Goa481405495
Gujarat127541368813512
Haryana95310371056
Himachal Pradesh113911441740
Jammu and Kashmir189189189
Jharkhand197071948820506
Karnataka151491526114249
Kerala480480473
Madhya Pradesh553457987
Maharashtra119611203018038
Meghalaya181181201
Odisha253702533024587
Puducherry340364451
Punjab492450645506
Rajasthan11761005933
Tamil Nadu376637223744
Telangana144316052033
Tripura303030
Uttar Pradesh161716171606
Uttarakhand155915241512
West Bengal99351017211403
Total142299143914154062
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