Steel New Delhi/IBNS: India's total crude steel production capacity during 2020-21 stood at 143.91 million tonnes, Union Minister of Steel Ram Chandra Prasad Singh told Rajya Sabha on Monday.
In the year 2020-21, import of finished steel stood at 4.75 mt while consumption was 94.89 mt and the share of import in consumption was 5 percent, according to data shared by the Steel Ministry.
India is second largest producer of steel in the world and is net exporter while certain kind of steel is also imported.
The government has taken various measures to increase steel production in the country.
These are: Notification of Domestically Manufactured Iron &. Steel Products (DMI&SP) Policy for promoting procurement of Made in India steel; Notification of Steel Scrap Recycling Policy to enhance the availability of domestically generated scrap; Issuance of Steel Quality Control Orders to stop manufacturing and import of non-standardized steel; Steel Import Monitoring System (SIMS) for advanced registration of steel imports; Production-Linked Incentive (PLI) Scheme for Specialty Steel with an outlay of Rs 6,322 crores; Establishment of Project Development Cell in the Ministry to attract and facilitate investment in the steel sector.
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