Steel ministry doing well on sales front

Efforts made by the Ministry of Steel have ensured placement of orders for domestic iron and steel to the tune of Rs 8,129 crore in the last five months.

Ministry of Railways, ONGC, GAIL, HPCL and EIL have placed orders with domestic iron and steel manufactures for various categories of rails, pipe and tubes. These products were earlier imported but are now being procured from domestic producers. As a result, domestic companies got order worth Rs 8,129 crore from June to October, said an official of the Ministry of Steel.

“Discussions are on with the Ministry of Railways to increase consumption of rails manufactured indigenously either through SAIL or other domestic manufactures. Efforts are also being made to on-board sectors like defence and public works so that use of steel products manufactured in India grows,” the official said.

In order to give preference to domestically manufactured iron and steel products in government procurement, the Ministry of Steel promulgated a policy, which was notified on 8 May last year.

To ensure that the policy is implemented in letter and spirit, a Standing Committee under the ministry, chaired by Steel Secretary, has been constituted to oversee its implementation.

A grievance committee has also been constituted for redressal of problems which may arise while implementing the policy.

The Ministry of Steel organised a conclave in Bhubaneswar in October this year for domestic manufacturers of capital goods meant for the steel sector. In this conclave, MoUs worth Rs 39,400 crore were signed between foreign capital goods manufacturers and technology providers with Indian capital goods manufacturers and steel producers.

This, the ministry hopes, will result in the manufacturing of capital goods for the steel sector within the country in the next four years. This is a major shot in the arm for the ‘Make in India’ initiative of the Centre.