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 Industry & Economy - Steel


Govt sets 100 mt steel production target by 2020

Our Bureau

New Delhi , July 26

THE Government has set a target of 100 m.t. of steel production in the country by the year 2020 as part of the National Steel Policy being formulated by the Ministry of Steel, in consultation with other concerned Ministries.

The policy is based on the vision of the President, Dr A.P.J. Abdul Kalam, of transforming India into a developed economy by 2020, Ministry officials said.

The basic features of the policy will deal with steps for promotion of domestic demand, enhancing export presence, and measures for ensuring adequate and timely supply of basic materials, quality infrastructure and adequate financial and human resources. The draft policy has been circulated among the concerned Ministries for their comments before the draft gets finalised.

The process of consultation is in progress and after another revised consultation phase with the industry, the draft policy would be presented before the Cabinet for approval, officials said.

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