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India aims on new steel policy: 300 million tonnes by 2025

Vishnu Deo Sai, the Steel Minister of India, in a recent conference, announced that, the government is working on the policy. The critics have stated continuously that, this process is impossible, taking in the fact that India only produces 82 mtpa of finished steel .

While addressing the conference, that the new policy implemented by the government will be focusing mainly on three matters which are, issues related to the raw material security, capacity addition, land acquisition as well as environmental challenges.
In order to achieve the target by the year 2025, the minister and his departments should start now to track raw material. Due to lack of domestic raw material, the country will soon become the biggest importer of the raw material.

In the last financial year, India only had to import 0. 37 tones of iron ore , but this year, according to government records companies had to import twice. The Chairman of CII National Committe of Steel, C.S. Verma, stated about this on Steel Summitt. He said that many things are keeping the country from reaching its full potential. Some of these factors are the high cost of logistics as well as unavailability of raw materials.

Source:Scrap Monster

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