Steel is a de-regulated sector and the government acts as a facilitator by creating a conducive policy environment for the development of the steel sector. The Government has taken several measures to strengthen Steel Industry to face global competition such as:-

1. Implementation of Domestically Manufactured Iron & Steel Products (DMI&SP) Policy for promoting ‘Made in India’ steel for Government procurement.
2. Launch of the Production Linked Incentive (PLI) Scheme for Specialty Steel to promote the manufacturing of 'Specialty Steel' within the country and reduce imports by attracting capital investments.
3. Thrust in the Union Budget to infrastructure expansion which has contributed to increasing steel consumption.
4. Calibration in Basic Customs Duty on Ferro Nickel and ferrous scrap imports to reduce input costs.
5. Revamping Steel Import Monitoring System (SIMS) for monitoring of imports to provide granular details on imports to the domestic steel industry.
6. Introduction of Steel Quality Control Orders thereby banning sub-standard/ defective steel products in the domestic market as well as imports to ensure the availability of quality steel to the industry, users, and public at large.

This information given by the Minister of State for Steel and Heavy Industries, Shri Bhupathiraju Srinivasa Varma in a written reply in the Lok Sabha today.

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TPJ/NJ

(Release ID: 2146938)