The Government has taken the following major policy initiatives and administrative steps since 2014

1. Notification of National Steel Policy, 2017 (NSP 2017) on 8^th May, 2017.
2. Notification of Domestically Manufactured Iron & Steel Products (DMI&SP) Policy on 8^th May, 2017.
3. In order to address the challenge of unfair trade, the Government took trade measures such as anti dumping duties, safeguard duties.
4. Imposed temporary introduction of Minimum Import Price in 2016.
5. Notified the Quality Control Orders which makes the use of BIS standards mandatory for all steel products and imports.

 

As a result of the above measures the dumping of cheap steel products in the country was contained and price realisation improved. Further, Import of total finished steel during the year 2016-17 has declined by 38.3% over the previous year 2015-16 and the export of total finished steel has increased by 102 % in the year 2016-17 over the previous year.

The Minister of State for Steel Shri Vishnu Deo Sai gave this information in a written reply to a question in Rajya Sabha today.

 

********

NP

 

(Release ID: 1514333) Visitor Counter : 825