Home Industry Steel Majors Seek Singh’s Support

Steel Majors Seek Singh’s Support

New Delhi: The Indian Steel Association (ISA), the major body of integrated steel producers of India, today drew personal attention of Union Steel Minister Ram Chandra Prasad Singh on the issues faced by the steel industry.  

Captains of the Industry including Dilip Oommen (President, ISA, & CEO, AMNS India), Soma Mondal (Chairperson, SAIL), TV Narendran (CEO, Tata Steel Ltd), Sajjan Jindal (Chairman, JSW Ltd) and Naveen Jindal (Chairman, JSPL) met the Union Minister in New Delhi today. Members represented by the ISA together produce almost 90 per cent of the steel in the country.

During the meeting, the captains raised issues requiring support from the Government on – steel demand creation, notifying rules of PLI scheme, getting National Mineral Index NMI notified, logistics and freight related issues, speedy clearances for capacity addition among others.

Since the steel sector predominantly utilizes railways for transportation of raw materials and finished goods, the Minister suggested that the industry concerns should be taken up vigorously with Ministry of Railways.

Acknowledging the concerns regarding environment and emissions generated by the steel sector, Mr.Singh advised the industry to move towards adoption of using hydrogen in a big way.

ISA appreciated the proactive role of the Ministry in notification of Quality Control Order (QCO) on 145 Indian Standards and ensuring their timely implementation. It was stated that this would result in additional investment in the days to come.

The ISA representatives pointed out that the cost of inputs including raw material and logistics is high which is affecting the competitiveness of the Indian steel sector.

The industry also sought an early introduction of the National Mineral Index (NMI) as mentioned in MMDR Amendment Act 2021 and raised the issue regarding “Royalty on Royalty”.

The ISA representatives were informed that the committee set up for dealing with NMI is working towards addressing these issues.

The industry captains also emphasized on the need for enhancement of steel demand within the country by closely working with the infrastructure sector and sought the support of the Ministry of Steel in their mission.

Environmental and forest clearance related issues of the steel players were also discussed. It was assured that all help would be extended to hasten up the process of capacity addition in the country.

In his concluding remarks, Mr.Singh reiterated the Steel Ministry’s commitment towards “Atmanirbhar Bharat” and advocated that the larger players should deepen their engagement with the MSMEs so that every company, large and small, can grow together in the process and be a part of the growth story of the country.

He also urged that the industry should come up with ways and means to celebrate “Azaadi ka Amrut Mahotsav” and take part actively.

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