Page-2 of Steel sector Current Affairs, GK & News

Secondary Steel Sector Awards given for contribution to National Economy

Union Ministry of Steel recently for the first time gave away Secondary Steel sector awards to 26 mini steel companies in recognition of their contribution to the national economy. 12 companies were awarded Gold Certificates and 14 Silver Certificates for their performance during 2016-17. These awards were given in order to enhance global competitiveness of ..

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India becomes third largest producer of crude steel

According to recent report published by World Steel Association (WSA), India has overtaken US to become the world’s third largest steel producer in 2017. India’s crude steel production has grown by 6.2% to 101.4 million tonnes (MT) in 2017 compared to 95.5 MT in the previous year. Key Facts China has remained world leader by ..

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Union Cabinet Clears New National Steel Policy

The Union Cabinet has given its approval for National Steel Policy (NSP) 2017 to give impetus to the steel sector. The policy aims to enhance domestic steel consumption and transform Indian steel industry into a technologically advanced and globally competitive steel industry. The new policy favours the domestic manufacturers. Key features Policy aims to create self-sufficiency in ..

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Draft steel policy anticipates Rs. 10 lakh crore investments

The Steel Ministry has released new draft National Steel Policy of 2017, envisaging to double India’s domestic steel production capacity to 300 million tonnes by 2030-31. The draft policy anticipates a requirement of Rs. 10 lakh crore of fresh investments to meet production goal and expects creation of at least 11 lakh new jobs in ..

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Steel Ministry to set up of Steel Research & Technology Mission of India

Ministry of Steel is planning to set up Steel Research & Technology Mission of India (SRTMI) to facilitate joint collaborative research projects in the iron and steel sector in India. The conceptualization of SRTMI was done by a high level task force set up by the Union Ministry of Steel. Key Facts SRTMI has been ..

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Union Government imposes safeguard duty on import of steel products

The Union Finance Minister has extended the safeguard duty on import of some steel products by two years i.e till March 2018. In this regard, the Central Board of Excise and Customs (CBEC) has issued a notification mentioning that safeguard duty will be reduced to 10% in stages till 2008 from current 20%. The safeguard ..

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