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India's steel production increases by over 14 million tonnes in 3 years

India has not been much impacted by the tariff imposed by USA, Lok Sabha was told.

India's steel production increases by over 14 million tonnes in 3 years

New Delhi: India's total steel production increased from 88.98 MT in 2014-15 to 103.13 MT in 2017-18, Minister of State for Steel, Vishnu Deo Sai, informed Lok Sabha on Monday.

“The Government has notified the National Steel Policy, 2017 and the Policy for Providing Preference to Domestically Manufactured Iron and Steel (DMI&SP) in Government procurement, which create facilitative environment to improve domestic production and consumption of steel,” Sai told the Lok Sabha.

In reply to another question the Minister of State for Steel said India has not been much impacted by the tariff imposed by USA since India’s exports to the USA were just around 2.2% before the imposition of the tariff.

He said, with a view to provide relief to the domestic industry, government increased customs duty on steel in two phases-in June 2015 and August 2015, by 2.5 percent each.
   
Government of India has also issued Quality Control Orders namelySteel and Steel Products (Quality Control) Order, 2018 covering 47 carbon/alloy steel and 6 stainless steel products. The Quality Control Order prohibits manufacturing / import of sub-standard / seconds and defective products.

World Steel Association (worldsteel) in a report last month said that India has jumped ahead of Japan to become world's second largest steel producing country in the world.

The report added that crude steel production of India in 2018 stood at 106.5 MT, an increase of 4.9 percent from 101.5 MT in 2017. On the other hand, Japan Japan produced 104.3 MT in 2018, down 0.3 percent compared to 2017.