Ministry of Steel

About Ministry

• The Ministry of Steel is an executive branch agency of the Government of India that is responsible for formulating all policies regarding steel production, distribution and pricing in India. The Function of Ministry of Steel includes –
  • Coordination of data from various sources for the growth of the iron and steel industry in India
  • Formulation of policies in respect of production, pricing, distribution, import and export of iron & steel and ferro alloys
  • Planning and development of and assistance to the entire iron and steel industry in the country
  • Development of the input industries relating to iron ore, manganese ore, refractories and others required by the steel industry.

 

STEEL RESEARCH AND TECHNOLOGY MISSION OF INDIA (SRTMI)

Objectives

• • Spearhead R&D of national importance in iron & steel
  • To create state-of-art facilities in research and augment human resource
  • To develop collaborations amongst industry, national R&D laboratories and academic institutes as per national objectives and aspirations
  • To create a globally competitive and sustainable steel industry on its own

Salient Features

• • It is an Institutional mechanism in the form of a Society facilitated by the Ministry of Steel and driven by major steel producers of India, to facilitate joint collaborative research projects in the Iron & Steel sector of India.
  • It is an industry driven initiative which has been setup as a Registered Society wherein Ministry of Steel is a facilitator.
  • Ministry of Steel will provide 50% of the required corpus and the balance will be provided by participating steel companies.
  • The mission will develop appropriate technology for cost-effective production of quality steel with indigenous raw material, including utilization of low grade resources in an environment friendly manner.
  • R&D programs of national importance will be evolved and R&D investments for the steel sector will be increased to 1% of turnover in a phased manner.
  • National “Institutes on Steel Technology” will be created to promote post graduate programs and research in steel technology.

 

EXPORT PROMOTION (DUTY EXEMPTION SCHEMES) OF IRON & STEEL PRODUCTS

• The scheme enables exporters to import relevant raw material and other inputs in required quantities, duty free for production of the export product. Quantities of import are allowed as per standard input output norms (SION) prescribed by DGFT or as per self declared norms by the exporters subject to ratification of the DGFT.
• Ministry of Steel (Technical Wing) helps the Advance Authorization Committee/Norms Committee in DGFT/ in ratification of the self declaration norms or otherwise. Ministry of Steel also helps DGFT to fix new norms (Standard Input-Output Norms) and/or to review existing norms in consultation with industry/ experts/ consultants.

 

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