India's Steel Ministry is finalizing a new national steel policy (NSP) focusing on infrastructure development, securing raw materials and human resource development for the growth of the steel industry, according to the Associated Chambers of Commerce and Industry of India (ASSOCHAM).
Indian Steel Minister Beni Prasad Verma indicated that the product mix offered by Indian steel manufactures must also be enlarged, keeping in view the changing requirements of customers, adding that the Indian steel industry needs to invest more in research and development.
Mr. Verma pointed out that India is not able to utilize low grade fines due to lack of suitable technology, despite having large iron ore deposits. Suitable technologies like pelletization should be adopted to utilize iron ore fines in steel production.