Ministry of Steel data says finished steel consumption rises 2.6%
DSIJ Intelligence / 18 Jul 2017
In 2016-17, the consumption of finished steel grew by 2.6%, whereas production grew by 8.5% over previous financial year, according to the data published by the Ministry of Steel.
In 2016-17, the consumption of finished steel grew by 2.6%, whereas production grew by 8.5% over previous financial year, according to the data published by the Ministry of Steel.
A release by the Steel Ministry on Monday said, “India was net exporter of steel in 2016-17 and thus production of finished steel was sufficient to meet its present demand in the country and also for exports.”
Steel being a de-regulated sector, the role of the government is that of a facilitator only, which lays down the policy guidelines and establishes the institutional mechanism/structure for creating conducive environment for improving efficiency and performance of the steel sector.
Laying down the broad roadmap for encouraging long-term growth, the Government has released the National Steel Policy 2017 for the Indian steel industry, it added.
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