India goes up in global steel production ranking to 7th in 2006

As per International Iron and Steel Institute (IISI), India’s Global ranking in terms of steel crude production has progressed steadily in the last three years and has improved on year-to-year basis from 9th rank in 2004 to 8th in 2005 and 7th rank in 2006.

Keeping in view the importance of steel sector in the country Government has formulated a National Steel Policy in 2005 aiming at a production level of 110 Million Tonnes per annum by the year 2019-20.

As regards the role of the Government; since steel is a de-regulated sector, government acts only as a facilitator. However, the government has taken several steps to increase the production of steel such as modernisation and expansion of public sector steel plants and adoption of various policy measures such as, removal of procedural and policy bottlenecks in the availability of input raw materials, creation of infrastructure, so as to encourage creation of additional steel production capacity in the country.

This was stated by the Minister of State for Steel Shri Akhilesh Das in a written reply in the Lok Sabha today.

Source : Press Information Bureau

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