ISA plans to unify steel producers under the same roof

ISA plans to unify steel producers under the same roof

Indian Steel Alliance, which represents five hot rolled coil producers in India, is planning to restructure domestic steel industry. The plan of ISA is similar to the system practiced by the steel industry of US and Japan. According to the plan, Indian steel industry will be brought under one umbrella organization. The umbrella organization will not be segment-based as ISA currently is. The aim of the plan is to source funds for future expansions. ISA is currently working on creating a platform to gather all the existing iron and steel associations such as Cold Rolled Steel Manufacturer's Association (CRSMA), Sponge Iron Manufacturers of India, Electric Arc Furnace Association and similar associations. According to the sources, when the sector is unified under the same roof, the next step will be to urge the government to provide growth opportunities to the industry. For instance formation of special steel industry system or fund may be demanded. ISA will meet officials of three private sector companies and two public sector companies next week to discuss the new project.