{"id":45868,"date":"2025-06-21T18:36:58","date_gmt":"2025-06-21T13:06:58","guid":{"rendered":"https:\/\/www.nextias.com\/ca\/?p=45868"},"modified":"2025-06-24T15:50:48","modified_gmt":"2025-06-24T10:20:48","slug":"steel-industry-in-india","status":"publish","type":"post","link":"https:\/\/www.nextias.com\/ca\/current-affairs\/21-06-2025\/steel-industry-in-india","title":{"rendered":"Steel Industry in India"},"content":{"rendered":"\n<p><strong>Syllabus: GS3\/Economy&nbsp;<\/strong><\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>In News<\/strong><\/h2>\n\n\n\n<p>Recently ,the Ministry of Steel has extended Bureau of Indian Standards (BIS) quality norms to steel inputs and imports, giving industry players less than one working day to comply.&nbsp;<\/p>\n\n\n<div class=\"wp-block-image\">\n<figure class=\"aligncenter size-full is-resized\"><img data-dominant-color=\"cccccd\" data-has-transparency=\"false\" loading=\"lazy\" decoding=\"async\" width=\"558\" height=\"354\" src=\"https:\/\/wp-images.nextias.com\/cdn-cgi\/image\/format=auto\/ca\/uploads\/2025\/06\/Steel-industry-in-India.png\" alt=\"steel industry in india\" class=\"not-transparent wp-image-45869\" style=\"--dominant-color: #cccccd; width:526px;height:auto\" srcset=\"https:\/\/wp-images.nextias.com\/cdn-cgi\/image\/format=auto\/ca\/uploads\/2025\/06\/Steel-industry-in-India.png 558w, https:\/\/wp-images.nextias.com\/cdn-cgi\/image\/format=auto\/ca\/uploads\/2025\/06\/Steel-industry-in-India-300x190.png 300w\" sizes=\"auto, (max-width: 558px) 100vw, 558px\" \/><\/figure>\n<\/div>\n\n\n<h2 class=\"wp-block-heading\"><strong>India\u2019s Steel Sector&nbsp;<\/strong><\/h2>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Steel has been a key driver of industrialization and is considered a foundation of economic development.<\/li>\n\n\n\n<li>&nbsp;As both a raw material and intermediate product, its production and consumption reflect a nation&#8217;s growth.&nbsp;<\/li>\n\n\n\n<li>In India, the steel industry is divided into three categories: major producers, main producers, and secondary producers.<\/li>\n<\/ul>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>Present Status&nbsp;<\/strong><\/h2>\n\n\n\n<ul class=\"wp-block-list\">\n<li>India is the <strong>world\u2019s second largest crude steel<\/strong> producer after China with production of 144.3 million tonnes crude steel in FY 2023-24.&nbsp;<\/li>\n\n\n\n<li>India was <strong>net importer of finished steel<\/strong> during 2023-24 with export of 7.49 million tonnes and import of 8.32 million tonnes.<\/li>\n\n\n\n<li>The steel sector is vital to India&#8217;s economy, <strong>contributing about 2% to GDP.<\/strong><\/li>\n<\/ul>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>Steps&nbsp;<\/strong><\/h2>\n\n\n\n<ul class=\"wp-block-list\">\n<li>The Government of India has launched the <strong>Purvodaya programme<\/strong> which aims to accelerate the development of eastern India through the establishment of an integrated steel hub.<\/li>\n\n\n\n<li>The <strong>National Steel Policy, 2017<\/strong> envisages 300 million tonnes of production capacity by 2030-31.<\/li>\n\n\n\n<li>In the Union Budget <strong>2024-25,<\/strong> Basic Customs Duty (BCD) has been reduced from <strong>2.5% to Nil on Ferro-Nickel<\/strong> and Molybdenum ores and concentrates which are raw materials for the steel industry.\n<ul class=\"wp-block-list\">\n<li>BCD exemption on Ferrous Scrap and specified raw material for manufacture of CRGO steel has been continued upto 31.03.2026.<\/li>\n<\/ul>\n<\/li>\n\n\n\n<li><strong>Implementation of Domestically Manufactured Iron &amp; Steel Products (DMI&amp;SP) <\/strong>Policy for promoting \u2018Made in India\u2019 steel for Government procurement.<\/li>\n\n\n\n<li><strong>Launching of the Production Linked Incentive (PLI) Scheme<\/strong> for Specialty Steel to promote the manufacturing of &#8216;Specialty Steel&#8217; within the country and reduce imports by attracting capital investments.&nbsp;<\/li>\n\n\n\n<li><strong>Revamping of Steel Import Monitoring System (SIMS) 2.0<\/strong> for more effective monitoring of imports to address the concerns of the domestic steel industry.<\/li>\n\n\n\n<li><strong>Introduction of Steel Quality Control Orde<\/strong>r thereby banning sub-standard\/ defective steel products in domestic market as well as imports to ensure the availability of quality steel to the industry, users and public at large.&nbsp;<\/li>\n<\/ul>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>Challenges and Concerns&nbsp;<\/strong><\/h2>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>India\u2019s steel industry <\/strong>is facing major challenges due to a surge in cheap Chinese exports, which have hurt both domestic prices and export competitiveness.&nbsp;<\/li>\n\n\n\n<li>&nbsp;Indian steelmakers warn that without protective measures like safeguard duties, India risks becoming a dumping ground for global steel surpluses.<\/li>\n\n\n\n<li>The lack of government support and abrupt implementation without adequate notice has drawn strong criticism from industry stakeholders.<\/li>\n<\/ul>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>Way Forward&nbsp;<\/strong><\/h2>\n\n\n\n<ul class=\"wp-block-list\">\n<li>The steel industry has emerged as a major focus area given the dependence of a diverse range of sectors on its output as India works to become a manufacturing powerhouse through policy initiatives like <a href=\"https:\/\/www.nextias.com\/blog\/make-in-india\/\" data-type=\"link\" data-id=\"https:\/\/www.nextias.com\/blog\/make-in-india\/\"><strong>Make in India<\/strong><\/a>.<\/li>\n\n\n\n<li>Despite high Chinese exports, India remains a strong growth market.&nbsp;<\/li>\n\n\n\n<li>India must proactively implement safeguard measures to reduce its reliance on imports and promote domestic steel production to ensure atmanirbharta and long-term competitiveness.<\/li>\n<\/ul>\n\n\n\n<p>Source :TH<\/p>\n\n\n\n<p class=\"has-background\" style=\"background-color:#ebecf0\"><strong>Read this in Hindi:<\/strong> <a href=\"https:\/\/www.nextias.com\/ca\/current-affairs-hindi\/21-06-2025\/%E0%A4%AD%E0%A4%BE%E0%A4%B0%E0%A4%A4-%E0%A4%87%E0%A4%B8%E0%A5%8D%E0%A4%AA%E0%A4%BE%E0%A4%A4-%E0%A4%89%E0%A4%A6%E0%A5%8D%E0%A4%AF%E0%A5%8B%E0%A4%97\" data-type=\"link\" data-id=\"https:\/\/www.nextias.com\/ca\/current-affairs-hindi\/21-06-2025\/%E0%A4%AD%E0%A4%BE%E0%A4%B0%E0%A4%A4-%E0%A4%87%E0%A4%B8%E0%A5%8D%E0%A4%AA%E0%A4%BE%E0%A4%A4-%E0%A4%89%E0%A4%A6%E0%A5%8D%E0%A4%AF%E0%A5%8B%E0%A4%97\">\u092d\u093e\u0930\u0924 \u092e\u0947\u0902 \u0907\u0938\u094d\u092a\u093e\u0924 \u0909\u0926\u094d\u092f\u094b\u0917<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<h3><strong>In News<\/strong><\/h3>\n<li class=\"ms-5\">Recently ,the Ministry of Steel has extended Bureau of Indian Standards (BIS) quality norms to steel inputs and imports, giving industry players less than one working day to comply.\u00a0<\/li>\n<p><\/p>\n<h3><strong>India\u2019s Steel Sector\u00a0<\/strong><\/h3>\n<li class=\"ms-5\">Steel has been a key driver of industrialization and is considered a foundation of economic development.<\/li>\n<li class=\"ms-5\">\u00a0As both a raw material and intermediate product, its production and consumption reflect a nation&#8217;s growth.\u00a0<\/li>\n<li class=\"ms-5\">In India, the steel industry is divided into three categories: major producers, main producers, and secondary producers.<\/li>\n<p><a href=\"https:\/\/www.nextias.com\/ca\/current-affairs\/21-06-2025\/steel-industry-in-india\" class=\"btn btn-primary btn-sm float-end\">Read\u00a0More<\/a><\/p>\n","protected":false},"author":15,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[21],"tags":[],"class_list":["post-45868","post","type-post","status-publish","format-standard","hentry","category-current-affairs"],"acf":[],"jetpack_featured_media_url":"","_links":{"self":[{"href":"https:\/\/www.nextias.com\/ca\/wp-json\/wp\/v2\/posts\/45868","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.nextias.com\/ca\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.nextias.com\/ca\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.nextias.com\/ca\/wp-json\/wp\/v2\/users\/15"}],"replies":[{"embeddable":true,"href":"https:\/\/www.nextias.com\/ca\/wp-json\/wp\/v2\/comments?post=45868"}],"version-history":[{"count":5,"href":"https:\/\/www.nextias.com\/ca\/wp-json\/wp\/v2\/posts\/45868\/revisions"}],"predecessor-version":[{"id":46081,"href":"https:\/\/www.nextias.com\/ca\/wp-json\/wp\/v2\/posts\/45868\/revisions\/46081"}],"wp:attachment":[{"href":"https:\/\/www.nextias.com\/ca\/wp-json\/wp\/v2\/media?parent=45868"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.nextias.com\/ca\/wp-json\/wp\/v2\/categories?post=45868"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.nextias.com\/ca\/wp-json\/wp\/v2\/tags?post=45868"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}