Press Information Bureau
Government of India
Ministry of Steel
06-February-2017 17:27 IST
Performance of Steel Sector
The production of iron ore and export of iron ore (both quantity and value-wise) for the last three years is shown in table below:-
Table-1: Iron Ore
|Export: Value||Lakh (Rs)||948079||314281||126319|
|Source: JPC/*IBM, MT = Million Tonnes, (e) = estimated.|
The production for sale, export and consumption of total finished steel (non-alloy + alloy/stainless) for the last three years is shown in table below:-
Table-2: Total Finished Steel
|Production for sale||MT||87.67||92.16||90.39|
|Export: Value||Crore (Rs.)||29747||29298||22658|
|Source: JPC, MT = Million Tonnes|
Production of iron ore in the country is sufficient to meet the domestic requirement.
The following steps are taken by the Government to ensure adequate supply of iron ore to the domestic steel industries:-
- i) Government has notified Mines and Minerals (Development and Regulation) Amendment Act, 2015 to streamline grant of Mining Leases in order to maintain sufficient availability of raw materials for the various sectors including steel sector.
- ii) Government has put the export duty @ 30% on Iron Ore Lumps/Fines above 58% Fe content.
The Minister of State in the Ministry of Steel Sh. Vishnu Deo Sai in reply to a question in Lok Sabha today gave this information.