Press Information Bureau
Government of India
Ministry of Steel
06-February-2017 17:29 IST
There has not been any decline in the production and consumption of steel in the country during the last 3 years, as shown in the table below:
|Year||Crude Steel Production
|Percentage Growth||Real consumption of Finished Steel|
|Yearly % Increase in Real consumption|
|Source: Joint Plant Committee (JPC) : mt. = Million Tonnes * Provisional|
The imports had increased and export declined in the last year, as illustrated in the table below. However, after taking several trade remedial measures, such as minimum import price, introduction of BIS quality control, anti-dumping and safeguard duty, imports of steel have fallen 29.4% and exports increased by 80% during April – December, 2016 over the same period in the preceding year, providing space for the domestic industry to produce more for the market.
|Import and Export of Finished Steel in Million Tonnes|
|Year||Import||Export||% Change in Import||% Change in Export|
|April – Dec. ‘15||7.78||2.76|
|April – Dec. ‘16*||5.49||4.97||-29.4||80.0|
|Source: JPC : Annual Statistics various years; *Provisional|
Steel being a deregulated sector, decisions regarding investment are taken by the individual steel producers, based on various factors, including commercial considerations and market dynamics. It may be mentioned that a total of 25 Million Tonnes of crude steel capacity has been added in the country during the period 2013-14 to 2015-16.
In order to boost steel production and consumption in the country’s steel industry, Government has taken a number of steps including Notification of Mines and Minerals (Development and Regulation) Amendment Act, increasing Customs Duty, imposition of Safe-guard duty and Anti-Dumping Duty on a number of steel products.
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.