New Delhi(Kalinga Voice)
The Government of India has taken various steps to boost export competitiveness in the Steel sector, replied Union Minister for Steel Shri Dharmendra Pradhan in a written reply in the Lok Sabha.As per the reply of Minister Sri Pradhan, the various steps taken by the Ministry of Steel are as under:
i) Export promotion schemes like Merchandise Exports from India Scheme (MEIS), Market Access Initiative, Export Promotion Council, Advance Authorization, Export Promotion of Capital Goods (EPCG) etc.
(ii) Maintaining very low import duty on critical inputs like coking coal, iron ore, steel scrap, nickel etc.
(iii) Promoting multi-model logistics and enhancing use of inland waterways and coastal shipping to reduce logistics cost.
(iv) Allocation of captive iron ore mines and focus on steel clusters to help steel sector become more competitive for enhanced exports.
The details of consumption of total finished steel (non-alloy and alloy/stainless) in India during the current year i.e. April-August, 2020 and the corresponding period of last year are as follows:-
As the availability of total finished steel during April-August, 2020 has also decreased as indicated below, the decline in demand has not led to a surplus:-
As Steel is a de-regulated sector, Steel companies take their own decisions based on commercial considerations and market dynamics, both for domestic as well as overseas trade, replied Minister Sri Pradhan.
