India Industry Updates 24.03.2012




New Steel Policy in 6 Months; to push for faster growth

A new steel policy will be put in place in six months to facilitate rapid growth of the domestic steel sector by ensuring faster capacity addition, the government today said. "A Steel Ministry panel, constituted to frame the new Steel Policy will finalise the draft in two months and the new Policy will be ready in another three-four months," Joint Secretary Steel Dalip Singh told PTI on the sidelines of a Steel Summit here.

The work on the policy assumes significance as it is taking place against the backdrop of huge delays in the multi- billion dollar ventures including those of ArcelorMittal and POSCO because of regulatory and land acquisition hurdles.