Union Steel Minister, Chaudhary Beirender Singh, has said the new steel policy (NSP) would focus on ensuring raw material security, import substitution, enhancing steel consumption, R&D of value added steel, increasing energy efficiency and sustainability, establishing India as cost-effective and quality steel destination, and reducing carbon footprint of the industry.
He also explained how the preference policy may help domestic producers of iron and steel to accelerate consumption and production.
Chairing the second meeting of the recently constituted National Steel Consumers’ Council of Ministry of Steel in Bhubaneswar, he pointed out that the country was poised to become the second largest producer of steel in the world.
The meeting was attended by Dr. Aruna Sharma Secretary, Ministry of Steel, Government of India along with senior officers from the Ministry.
The minister called for intensifying research and development efforts for the production of value added and special steels including auto grade steel, CRGO, CRNO, etc. by 2019-20. This would make India self- reliant in sectors like automobile and defense for which we currently have to depend on imports.
He mentioned about the early formalization of Arcelor Mittal – SAIL JV.