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    Draft National Steel Policy 2017 1

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    GAVIN LEWIS
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    Draft National Steel Policy 2017 1

    Uploaded by

    GAVIN LEWIS
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    sadascdvcadxc csadscac

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    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Download as pdf or txt
    1 views1 page

    Draft National Steel Policy 2017 1

    Uploaded by

    GAVIN LEWIS
    sadascdvcadxc csadscac

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Download as pdf or txt
    of 1

    NATIONAL STEEL POLICY 2017

    1. Introduction

    1.1. Steel is a product of large and technologically complex industry having strong
    forward and backward linkages in terms of material flows and income generation.
    It is also one of the most important products of the modern world and of strategic
    importance to any industrial nation. From construction, industrial machinery to
    consumer products, steel finds its way into a wide variety of applications. It is also
    an industry with diverse technologies based on the nature and extent of raw
    materials used. In India, steel has an output multiplier effect of nearly 1.4X on GDP
    and employment multiplier factor of 6.8X.

    1.2. A vibrant Steel industry has historically been the foundation of a nation’s rapid
    Industrial Development. On account of rapid industrial development, from a small
    capacity of 22 MT in FY 1991-92 prior to deregulation, India has become the 3rd
    largest steel producer in the world with a production of 91 MT and a capacity of
    122 MT in FY 2015-16. The National Steel Policy 2017 (NSP 2017) is an effort to
    steer the industry to achieve its full potential, enhance steel production with focus
    on high end value added steel while being globally competitive.

    1.3. The National Steel Policy 2005 (NSP 2005) sought to indicate ways and means of
    consolidating the gains flowing out of the then economic order and charted out a
    road map for sustained and efficient growth of the Indian steel industry. However,
    the unfolded developments in India as also worldwide, both on the demand and
    supply sides of the steel market, have warranted a relook at the different elements
    of the NSP 2005.

    1.4. India’s competitive advantage in steel production is driven, to a large extent, from
    the indigenous availability of high grade iron ore and non-coking coal – the two
    critical inputs of steel production. In addition, it also has a vast and rapidly growing
    market for steel, strong MSME sector and a relatively young work force with
    competitive labour costs.

    1.5. Driven by the positive demand outlook and prevailing high prices of steel in the
    period post 2004, the Indian steel sector witnessed a wave of investments in the
    states of Odisha, Jharkhand, Karnataka and Chhattisgarh. Substantial new
    capacity was created and existing plants were modernized. A significant portion of
    these investments were funded by banks and other forms of borrowings.

    Page 1 of 32

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