- Build a globally competitive Industry
Steel is one of the most important products in the modern world and forms the backbone to any industrial economy. India being one of the fastest growing economies in the world, and steel is of strategic importance for the any nation owing to its application in construction & infrastructure, power, aerospace, automobile and industrial machinery.
- Enhance per Capita Steel Consumption
Ministry has identified construction and manufacturing sectors like Rural development, Urban infrastructure, Roads & Highways, Railways etc. to be the key focus areas. Efforts will be made to emphasize the lower lifecycle costing, usage of steel intensive structures/designs like pre-cast/ prefab building, steel bridges, steel reinforced pavements and steel crash barriers along with providing preference to ‘Indian Made steel’ for infrastructure development and construction activities in the country.
- Meet domestic demand of high end steel applications
Ministry is taking necessary initiatives to encourage steel producers to have strategic ventures in production and development of technologically more complex products including high end varieties of alloy steel and electrical steel so as to reduce the dependence on imports.
- Increase domestic availability of washed coking coal and iron ore
Ministry will take necessary steps to ensure availability of raw materials like Iron ore, Pellets, Coking coal and non-coking coal, Natural gas, Limestone, Manganese, Ferro-alloys, Refractory raw material, Nickel and Ferrous Scrap, at competitive rates.
- Global presence in value added/ high grade steel
The Ministry is encouraging the industry to be competitive and to develop a global presence and is also deliberating with Ministry of Commerce to ensure that export production is zero rated with regard to various central & state taxes and levies.
- Be world leader in energy efficiency and sustainability
Ministry of Steel, in association with suitable agency, will constantly monitor techno-economic performance of all the steel plants within the country vis-à-vis the global best practices. Furthermore, increased use of prepared burden in charge mix and greater use of PCI in blast furnaces will also be promoted. Steel companies will be encouraged to have strategic joint ventures for production and development of technologically more advanced products. Transfer of technology for production of automotive steel and other special steels will be facilitated by helping set up JV’s with global leaders in such products. Ministry will encourage the research institutes within the country to develop less resource intensive and less energy intensive steelmaking technologies as well as new products.
- Establish as cost-effective and quality steel destination
Thirty Three (33) steel products have already been notified under the mandatory quality certification mark scheme of BIS. Efforts will be made to bring in additional steel products, which are used in critical end-use applications, under the mandatory scheme to ensure protection of human health, environment, and safety. Apart from the adherence to conditions under Steel and Steel Products (Quality Control) Order, Ministry of Steel will be facilitating the production of quality steel, particularly in MSME sector by carrying out R&D and technological interventions and providing financial assistance.
- Attain global standards in Industrial Safety & Health
The Ministry is coordinating with steel companies to ensure that on the job trainings on maintaining a safe workplace are provided to employees of the steel companies.
- Substantially reduce the C foot-print of the industry
In order to address the environment related issues, the Ministry is facilitating the formation of a forum to chalk out best practices and promote policies and programs that encourage and expedite the transition to a clean energy economy. Also, the ministry is also encouraging the steel companies for development of Waste Management Plan for additional impetus on zero-waste or complete waste recycling. Further initiatives are also being taken to formulate and adopt standards at par with global best practices.
- Projected to grow to 300 MT by 2030-31
It is anticipated that a crude steel capacity of 300 MT will be required to meet the expected demand of 230 MT by 2030-31. Ministry will work with all the stakeholders to monitor investments in the steel industry on a continuous basis and will also facilitate setting up of SPVs in mineral rich states. Establishment of steel plants along the coast under the aegis of Sagarmala project will be undertaken. Appropriate efforts will be made to promote development of consistent & cost-effective refining methods in order to produce high quality steel. Necessary policy environment will also be provided to promote gas based steel plants, electric steelmaking, auxiliary fuel injection in blast furnace and other technologies which will bring down usage of coking coal in steel production.
- Investment required to the tune of ~10 Lakh Crore
Creation of additional capacity for fulfilling the anticipated demand will require significant capital investment of about Rs. 10 lakh Crore by 2030-31
- Employment generation in the range of 36 Lakhs
Creation of additional capacity for fulfilling the anticipated demand will also generate significant employment in the range of 36 Lakhs by 2030-31 from the current level of 25 Lakhs depending on degree of automation resulting from adoption of different technologies
- Some of the key features of the NSP 2017 include creating self-sufficiency in steel production by providing policy support & guidance to private manufacturers, MSME steel producers, CPSEs & encouraging adequate capacity additions, development of globally competitive steel manufacturing capabilities, cost-efficient production and domestic availability of iron ore, coking coal & natural gas, facilitating foreign investment & asset acquisitions of raw materials and enhancing the domestic steel demand.
- The policy projects crude steel capacity of 300 million tonnes (MT), production of 255 MT and a robust finished steel per capita consumption of ~160 Kgs by 2030 – 31, as against the current consumption of ~60 Kgs. The policy also envisages to domestically meet the entire demand of high grade automotive steel, electrical steel, special steels and alloys for strategic applications and increase domestic availability of washed coking coal so as to reduce import dependence on coking coal from about 85% to around 65% by 2030-31.
- With the roll out the New Steel Policy, it is envisaged that the industry will be steered with appropriate policy support in creating an environment for promoting domestic steel and thereby ensuring that production meets the anticipated pace of growth in demand. Hopefully, India will create a technologically advanced and globally competitive steel industry that is self-sustainable and environment friendly.