By Admin 
Steel Industry Protection: According to information received from a ministry official, the government has taken several steps to protect the domestic industry. Which includes imposing safeguard duty and anti-dumping duty on imports of flat steel products from countries like China and Vietnam.
To promote high quality finished steel, the Ministry has implemented a production linked incentive scheme. Under which financial incentives are being given for manufacturing of high-grade and special steel used in sectors like defence, power supply, renewable energy, automobile and aviation.
Government is paying attention to the supply of raw materials
The government is also focusing on strengthening the availability of raw materials. The official said, new reserves of coking coal are being discovered and we are in talks with resource rich countries to diversify the supply.
Auctions for iron ore are already underway and steel makers are being encouraged to participate.
Statement of Jindal Steel Chairman
Naveen Jindal, Chairman of Jindal Steel and President of the Indian Steel Association, said that India has made good progress, but it needs to be implemented more rapidly. He said the way forward demands sustained demand creation, policy stability and bold investment.
Industry body Assocham said government support has been important, but rising costs of coking coal, high logistics costs, limited availability of railway rakes and infrastructure constraints are still weighing on the sector. Assocham expects steel demand to increase in the new year and accordingly quality control orders are unlikely to be relaxed further.
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