In recent years, Indian steel makers have been hurt by an unprecedented influx of steel imports from countries such as China, Japan and South Korea. Photo: BloombergMumbai: The cabinet late on Wednesday cleared a policy for the domestic steel sector which plans to treble India’s steel production capacity by 2030 and help the country meet its steel requirements. On Thursday, shares of large steel makers Tata Steel Ltd, JSW Steel Ltd and Jindal Steel and Power Ltd were little changed on the BSE from their Wednesday close. The government has in the last year taken a few protectionist steps for the domestic steel sector. “There is no immediate relief for steel capacity which is under stress or up for sale.”Large steel manufacturers, however, are positive.

Source: Mint May 04, 2017 07:30 UTC