Indian government issues National Steel Policy

Indian government issues National Steel Policy

Indian government has issued a draft National Steel Policy (NSP) today. The policy aims at increasing annual production capacity to 100 million tons by 2020. The capacity expansion is planned to be made in line with domestic demand and overseas demand in the coming decade. Steel Minister Ram Vilas Paswan stated that capacity expansion requires stable raw material supply and an increase in the productivity. Therefore the gap between demand and supply can be minimized. In order to increase productivity of Indian steel mills, certain measures, which aim at eliminating the problems regarding supply, will be implemented. All the measures will help prices to stabilize, to balance demand and supply and to increase international competitiveness of Indian steel mills.