Promotion of Steel Sector

Some domestic Steel Manufacturers and other stake holders have represented against surge in imports of steel.  The same has been examined by Government and the following steps taken:-  

(i)  To ensure that only quality steel is imported, Government has notified Steel and Steel Product (Quality Control) Order dated 12.03.12 as last amended on 04.12.14.

(ii) Imposed anti-dumping duty on hot rolled flat stainless steel imports from China, Malaysia and South Korea on 05.06.2015.

(iii) Raised the basic Customs Duty on various categories of steel vide Notification No.39 dated 16.06.2015.

(iv) Notified Coal Mines (Special Provisions) Amendment Act, 2015 on 30.03.2015 and auctioned Coal Mines.

(v) Notified Mines and Minerals (Development and Regulations Amendment) Act, 2015 on 27.03.2015.

(vi) Imposed Export Duty at the rate of 30% ad valorem on all varieties of iron ore with effect from 30.12.2011 and 5% ad valorem on iron ore pellets with effect from 27.01.2014.  Further Export Duty at the rate of 10% has been levied on iron ore containing less than 58% Fe content with effect from 30.04.2015.

The details of the import of Steel in the Country is as follows:-

 Trend :   There is decline of about 31 % in imports during 2013-14 and increase of about 71 % during 2014-15, as compared to previous financial year. 

The Minister of Steel and Mines Shri Narendra Singh Tomar provided this information in reply to a question in Lok Sabha today.

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YSK/Uma