The National Steel Policy (NSP) in India aims to create a technologically advanced and globally competitive steel industry . It was first introduced in 2005 and later revised in 2017 to reflect evolving industry dynamics .
Key objectives and highlights:
- Vision: To create a self-sufficient steel industry that is technologically advanced, globally competitive, and promotes economic growth .
- Production Capacity: The NSP 2017 set a target to achieve 300 million tonnes (MT) of steel production capacity by 2030-31 .
- Crude Steel Production: The policy aims to increase crude steel production to 255 million tonnes by 2030-31 .
- Per Capita Consumption: The NSP envisions raising per capita steel consumption to 160 kg by 2030-31 .
- Steel Exports: India is aiming to export 25 million tons of steel .
- Capacity by 2047: The goal is to reach a capacity of 500 million tons by 2047 .
- Domestic Manufacturing: The policy promotes the use of domestically manufactured iron and steel products in government projects to boost local production and reduce reliance on imports .
- Raw Material Security: Ensuring availability of raw materials, such as iron ore and coking coal, is a key focus to support the expanding steel industry .
- Technology Upgradation: Encouraging the adoption of energy-efficient and environmentally friendly technologies in steel production .
- Research and Development: Promoting R&D activities to develop new steel grades and improve production processes .
- Skill Development: Enhancing the skills of the workforce to meet the evolving needs of the steel industry .
- Challenges Addressed: The policy seeks to address challenges such as raw material availability, infrastructure gaps, environmental concerns, and import dependence .
- Government Support: Government initiatives, such as the PM Gati Shakti program and the National Manufacturing Mission, support the steel industry by improving infrastructure and promoting manufacturing .
- Current Status: India is currently the second-largest steel producer in the world . The government is taking steps to increase steel production capacity and consumption .
