Govt Backs Steel Sector With Policy And Import Reforms

23 Jul 2025 CW Team

Steel is a de-regulated sector, and the Government of India plays a facilitative role by creating a supportive policy environment to drive the industry's growth. A series of initiatives have been implemented to enhance the sector's competitiveness on a global scale.

The Domestically Manufactured Iron & Steel Products (DMI&SP) Policy promotes the use of 'Made in India' steel in government procurement. Alongside this, the Production Linked Incentive (PLI) Scheme for Specialty Steel was launched to encourage domestic manufacturing and reduce dependence on imports through fresh capital investment.

Increased infrastructure spending announced in the Union Budget has also contributed to rising steel consumption.

To reduce input costs, the Government has adjusted Basic Customs Duties on ferro nickel and ferrous scrap imports. Further, the Steel Import Monitoring System (SIMS) has been revamped to offer more granular data on imports, helping the domestic industry better track and respond to foreign competition.

The introduction of Steel Quality Control Orders has helped eliminate sub-standard steel products from both the domestic market and imports, ensuring reliable, high-quality supply for industrial users and the general public.

This information was shared by Shri Bhupathiraju Srinivasa Varma, Minister of State for Steel and Heavy Industries, in a written reply to the Lok Sabha.

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