Centre taken several steps to increase production and export of steel
Steel is a deregulated sector and the targets for steel production, domestic consumption and export are not set by the Government. The decisions related to steel production, domestic consumption and export are taken by the individual steel producers on the basis of market demand and other commercial considerations. The details of production, consumption and export during the last three years and current year are under: –
(Figures in Million Tonnes)
| Crude Steel | Finished steel | ||
| Year | Production | Export | Real consumption |
| 2020-21 | 103.54 | 10.78 | 94.89 |
| 2021-22 | 120.29 | 13.49 | 105.75 |
| 2022-23 | 127.20 | 6.72 | 119.89 |
| April-June 2023-24* | 33.63 | 2.05 | 30.29 |
| (Source: Joint Plant Committee) *Provisional | |||
Steps taken by Government of India to increase the production and export of steel:
- Notification of Production-Linked Incentive (PLI) Scheme for Specialty Steel with an outlay of ₹6,322 Crore to promote the manufacturing of specialty steel within the country for domestic use and reduce import by attracting capital investments.
This information was given by the Union Minister of State for Steel Sh. Faggan Singh Kulaste in a written reply to a question in Rajya Sabha today.
