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Mr TV Narendran, MD, Tata Steel Limited on the National Steel Policy 2017

May 04, 2017

The Cabinet approved the National Steel Policy yesterday, under which priority will be given to Indian steelmakers in government tenders for infrastructure projects. The policy aims at increasing supply of domestic coking coal to cut dependence on imports by half and production of 300 million tonnes of the alloy by 2030-31. Please find appended quote by Mr. T V Narendran, MD, Tata Steel, India & SEA with regards to the same, for your reference-

"Indian steel industry is poised to grow from the current level of 60 kg per capita to 160 kg per capita consumption by 2030-31, as envisaged by the National Steel Policy 2017, released by Ministry of Steel, Government of India. The new policy would help in realigning the enablers in paving the way for India to realize its potential  by creating modern infrastructure and meeting the aspirations of its young population. We look forward to the implementation of the policy and the forecasted growth of the steel consuming sectors while we work with the Government to address supply side issues like raw material availability and debottlenecking  logistics constraints  in realizing the goals of the policy. We believe that the focus on infrastructure lead growth will not only support the demand growth of steel but will also help us achieve world class cost efficiencies outside our factory gates."