New Delhi: The Union Minister for Steel, Dharmendra Pradhan, said in Parliament yesterday that the steel industry is a deregulated sector. Indian steel companies take their own decisions based on commercial and market dynamics. The Government has enacted National Steel Policy (NSP), 2017, Domestically Manufactured Iron & Steel Products (DMI&SP) Policy, Steel Scrap Policy and encouraged domestic steel usage in Government procurement. Quality Control Orders have been notified towards prevention of unfair trade practices.
During the year 2018-2019, the total steel import constituted 7.9% of total demand of finished steel in the country.
In the year 2018-2019, total consumption of finished steel was 98.71 million tons. 7.85 million tons was imported, and the percentage of import to consumption is 7.9%.
This Information was given by the Union Minister for Steel Dharmendra Pradhan in a written reply in the Rajya Sabha on 4 December.
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