Policy vision and consultation timeline
A fresh National Steel Policy is set to be made public shortly so that stakeholders can review it, the steel secretary said. He explained that the document is being drawn up around the goal of moving India toward the Viksit Bharat objective for 2047. Within roughly seven days, the government intends to place the policy in the public domain so that interested parties can offer their comments and feedback.[S1]
Under the proposed framework, steps would be taken to hold back low-cost, poor-quality imports, using tools such as safeguard duties and anti-dumping duties. The policy also lays out ways to help the domestic steel sector, particularly its smaller producers, compete on both technology and pricing. Because the 2030-31 goals of the National Steel Policy 2017 have yet to be met, that policy needs to be revisited.[S1]
Production and environmental targets
A draft document seen by Reuters indicates that the planned policy targets lowering the steel industry's average carbon emission intensity from 2.54 tons of CO2 per ton of crude steel today to roughly 1.54 tons by 2047, supporting India's aim of net zero emissions by 2070. The document also forecasts iron ore demand of 772 million tons and calls for securing high-grade reserves through overseas assets and joint ventures.[S1]
Coking coal demand is projected by the steel ministry to hit 214 million tons, and the government intends to broaden where it sources the material through strategic global outreach while also acquiring assets abroad. By 2047, the policy envisions production capacity reaching 600 million tons.[S1]
