Partners

Iron and steel sector is the backbone of an economy. It is one of the primary vehicles of economic development of the country. Steel industry, a core of the core industries of Indian economy, started its journey since ancient times. India has now emerged as one of the significant steel producers in the world. India is currently the world’s third largest producer of crude steel and is expected to become the second largest producer of crude steel in the world soon. The Ministry of Steel is the apex body of Govt. of India for formulating all polices regarding steel industries and responsible for planning and development of iron and steel industry, development of essential inputs such as iron ore, limestone, dolomite, manganese ore, chromites, ferro-alloys, sponge iron etc. and other related functions. Seven (7) Central Public Sector Enterprises (CPSEs) – Steel Authority of India Ltd. (SAIL), Rashtriya Ispat Nigam Ltd. (RINL), National Mineral Development Corporation Ltd. (NMDC), MOIL Ltd., MSTC Ltd., MECON Ltd., KIOCL Ltd., their subsidiaries and one special purpose vehicle (ICVL) are working under the administrative control of Ministry of Steel. Ministry of Steel has rolled out two national landmark policies – (i) National Steel Policy – 2017, and (ii) Policy on Preference to Domestically Manufactured Iron & Steel Products. These policies will strengthen the Indian Steel Industry by creating self sufficiency in steel production by providing policy support & guidance to private manufacturers, MSME steel producers and CPSEs. It will also help to generate additional employment for 36 lakh people directly or indirectly. These policies seek to accomplish the PM’s vision of “Make in India” with the objective of nation building and to encourage domestic manufactures.