<h1>India Tightens Steel Policy: Govt Must Buy Local Steel, Lowers Contract Threshold to Rs. 25 Crore.</h1> The Indian government revised the Domestically Manufactured Iron and Steel Products Policy to bolster the 'Make in India' initiative, mandating that government bodies procure only domestically produced steel. The policy revision lowered the contract value threshold from Rs. 50 crore to Rs. 25 crore and included Engineering, Procurement, and Construction contracts. To protect domestic industry, the government issued 53 Steel Quality Control Orders and imposed trade measures like anti-dumping and countervailing duties. Additionally, various schemes are in place to promote steel exports. This information was presented by the Union Minister for Steel in a Lok Sabha session.