Union Minister of Steel Chaudhary Birender Singh said that his Ministry will soon announce the steel policy in the country for which the draft had already been put on the public domain.
Addressing a pressing conference to conclude his two-day visit to Visakhapatnam Steel Plant yesterday, he said the Steel Ministry has received several suggestions and important among them would be incorporated in the draft. It will be placed before the Cabinet for approval.
Stating that the steel industry in the country was under stress for the last three years due to volatile international markets and also imports from other countries, Mr. Birender Singh said the imports have been reduced by 26 per cent due to the anti-dumping duty imposed by the government to save our own steel industry.
Predicting bright future for Indian steel industry as its performance has improved during the last six months. He said the target for steel production in the country has been increased to 300 million tonnes by 2030 from the present 120 million tonnes. The production was 90 million tonnes last year.