Cabinet has approved the National Steel Policy, which seeks to outline a roadmap to increase the country’s annual steel production to 300 million tonnes by 2025. Photo: Abhijit Bhatlekar/MintNew Delhi: The cabinet cleared wide-ranging economic measures on Wednesday, including a national steel policy that favours domestic manufacturers in government projects. “This is a supportive mechanism to the domestic steel producers. The National Steel Policy 2017 aims to make India self-sufficient in steel production. The policy also envisages adequate local manufacturing to meet the demand for high-grade automotive steel, electrical steel, special steels and alloys for strategic applications by the same year.

Source: Mint May 03, 2017 14:39 UTC