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The proposed National Steel Policy envisages an indigenous production of over 100 million tones of steel by 2019-20 and seeks to remove the supply-side constraints to the growth of this industry in an open, globally integrated and competitive environment in order to achieve the goal. After the Policy is approved, a concrete action plan to achieve the given targets is expected to be prepared by an empowered Group of Ministers under the Chairmanship of the Steel Minister.
It is estimated that 190 million tones of iron ore would be required for producing 110 million tonnes of steel by 2019-20. Additional mining capacity would be developed to ensure availability of the required quantity of iron ore.
The proposed NSP seeks to remove bottlenecks towards achieving the level of growth envisaged by 2019-20 for the steel sector. While it addresses the constraints for growth in the different segments of the steel industry, it does not specify growth targets at the plant level.
This information was given by the Minister of Chemicals & Fertilizers and Steel, Shri Ram Vilas Paswan in a written reply to a question in Rajya Sabha today.
BJ:PM
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