India’s first national steel policy to be announced soon
As previously reported by SteelOrbis,
India's national steel policy was initially expected to be issued in October, however the Indian government announced that it wanted to learn about the viewpoints in the sector. As the action required time, the national steel policy was delayed for further negotiations.
Steel Secretary Mano Ranjan, declining to reveal any details of the national steel policy, has announced that the draft form of the policy is ready and the final form will soon be posted on the official web site of Indian government.
The national steel policy aims to make Indian steel industry more competitive in international market.
Moreover,
India is planning to invest Rupees 100 billion ($2.2 billion) within 15-20 years in order to make Indian steel sector competitive. Ranjan also expressed that they expect
India to challenge
China's supremacy in the Asian market with these
investments.