Steel is one industry that has high potential to generate exportable surpluses, because of rich local endowments of iron ore and non-coking coal required in sponge iron-making and scope for significant enhancement of domestic ferrous scrap supply once a favourable scrappage policy is in place.
In fact, the 2017 national steel policy (NSP) acknowledges the country’s “potential to export sufficient quantities of steel to become a major player in the global market.” The NSP recommends a three-pronged approach to make Indian steel globally competitive: Align ...
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First Published: Wed, June 10 2020. 23:03 IST
