Steel industry urged to make equipment
Scrap policy on the anvil
A government minister has called for the development of good design, engineering and manufacturing facilities in the country to reduce imports of equipment.
The call, similar to be original equipment manufacturers, was made by Vishnu Deo Sai, Minister of State for Steel, at the inauguration of ASSOCHAM Steel Summit on 9 Nov 2017.
The government is working on creating domestic capacity to replace imports of steel-based equipment, added Sunil Barthwal, Joint Secretary, Ministry of Steel.
The government is also working to improve logistics and raw materials supply.
“We are also trying to bring out a policy where domestic scrap generation and domestic scrap availability increases,” he said.
Among ongoing efforts is a joint venture agreement between state-owned MSTC Ltd and Mahindra group to set up scrap plant in Noida.
With such scarp collection centres and induction furnaces forming clusters, a lot of scrap-based steel development can take place in the country, said Barthwal.
India imports 6-7 million tonnes a year of scrap. fii-news.com