PIB News Update: Union Minister for Steel Shri Dharmendra Pradhan has informed that Steel Industry is a de-regulated sector. Indian steel companies take their own decisions based on commercial and market dynamics. Government has brought National Steel Policy (NSP), 2017, Domestically Manufactured Iron & Steel Products (DMI&SP) Policy, Steel Scrap Policy and encouraged domestic steel usage in Government procurement. Quality Control Orders have been notified towards prevention of unfair trade practices.
During the year 2018-2019, the total steel import constituted 7.9% of total demand of finished steel in the country. The total production, consumption and import of finished steel for the year 2018-2019 is as under:-
| Total Finished Steel (MT) | |||
| Year | Consumption | Import | Percentage of Import to Consumption |
| 2018-2019 | 98.71 | 7.84 | 7.9% |
Source: JPC
