Steel QCO, BIS Standards & Govt Initiatives Boost Industry Growth

02 Apr 2025 CW Team

Regarding the measures taken to upgrade the existing online portal for NOC applications, the functionality was integrated with the Steel Import Monitoring System (SIMS) portal, for the applicants seeking NOC, for such products which are not covered under the QCO. This initiative promoted ease of doing business as importers need only to register and provide the desired inputs on a single portal only.

Steel is a deregulated sector and the domestic steel prices & steel production are determined by factors such as steelmaking capacity, demand supply dynamics of market forces, consumption etc.

The National Steel Policy (NSP) 2017, envisages creation of a technologically advanced and globally competitive steel industry, including the small & medium steel producers, that promotes economic growth.

The following are the initiatives of Ministry of Steel, to encourage investments in sustainable and high-quality steel production aligned with the National Steel Policy:-

Government has launched the Production Linked Incentive (PLI) Scheme for 'Specialty Steel' to promote the manufacturing of certain high grade varieties of steel within the country by attracting capital investment and promote technology up-gradation in the steel sector. Under the National Green Hydrogen Mission of Ministry of New and Renewable Energy (MNRE), Ministry of Steel has awarded two pilot projects to produce DRI using 100% Hydrogen in vertical shaft and one pilot project to use hydrogen in existing Blast Furnace to reduce coal/coke consumption under this Mission. This information was given by the Minister of State for Steel and Heavy Industries, Bhupathiraju Srinivasa Varma in a written reply in the Lok Sabha today.

News source: PIB

Whenever BIS Standard for a steel product is formulated and incorporated in the Steel Quality Control Order (QCO), it is mandatory that such steel product will be manufactured with a BIS license, both by domestic producers or foreign producers intending to export to India. So far 151 Indian Standards have been notified under the Quality Control Order covering carbon steel, alloy steel and stainless steel. Regarding the measures taken to upgrade the existing online portal for NOC applications, the functionality was integrated with the Steel Import Monitoring System (SIMS) portal, for the applicants seeking NOC, for such products which are not covered under the QCO. This initiative promoted ease of doing business as importers need only to register and provide the desired inputs on a single portal only. Steel is a deregulated sector and the domestic steel prices & steel production are determined by factors such as steelmaking capacity, demand supply dynamics of market forces, consumption etc. The National Steel Policy (NSP) 2017, envisages creation of a technologically advanced and globally competitive steel industry, including the small & medium steel producers, that promotes economic growth. The following are the initiatives of Ministry of Steel, to encourage investments in sustainable and high-quality steel production aligned with the National Steel Policy:- Government has launched the Production Linked Incentive (PLI) Scheme for 'Specialty Steel' to promote the manufacturing of certain high grade varieties of steel within the country by attracting capital investment and promote technology up-gradation in the steel sector. Under the National Green Hydrogen Mission of Ministry of New and Renewable Energy (MNRE), Ministry of Steel has awarded two pilot projects to produce DRI using 100% Hydrogen in vertical shaft and one pilot project to use hydrogen in existing Blast Furnace to reduce coal/coke consumption under this Mission. This information was given by the Minister of State for Steel and Heavy Industries, Bhupathiraju Srinivasa Varma in a written reply in the Lok Sabha today. News source: PIB

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