TaxTMI 
TaxTMI 
‘MAKE IN INDIA’ Initiatives in Steel Sector
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....MAKE IN INDIA’ Initiatives in Steel Sector <br>News and Press Release<br>Dated:- 22-7-2019<br><BR>Domestically Manufactured Iron and Steel Products Policy has been notified on 8th May, 2017 and subsequently revised on 29th May, 2019 with a objective to encourage Make in India for steel and steel products. Under this Policy, Central Government Ministries / Departments and their agencies are req....
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....uired to mandatorily procure only those steel items which are manufactured in India. Although Steel is a deregulated sector. The following steps have been taken by the Government to curtail steel imports and boost steel exports:- * Domestically Manufactured Iron and Steel Products Policy, 2017 has been revised on 29.5.2019. It has reduced threshold minimum value of contract from ₹ 50 Cr t....
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....o ₹ 25 Cr. It now includes Engineering, Procurement and Construction (EPC) contracts within the ambit of this policy apart from other things thereby promoting consumption of domestically produced goods and reducing imports. * Government has notified 53 Steel and Steel Product (Quality Control) Orders which is applicable for both domestic productions as well as imports. The Steel Quality Co....
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....ntrol Order are implemented in the public interest for protection of human, animal and plant, safety of environment, prevention of unfair trade practices and national security. * In order to protect the domestic industry from unfair external competition, appropriate trade measures such as anti-dumping duties and countervailing duties have been imposed. * Government has several schemes for prom....
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....oting exports, such as MEIS, Market Access initiative, Export Promotion Council etc. This information was given by the Union Minister for steel Shri Dharmendra Pradhan in a written reply in the Lok Sabha today. ***** YKB/TFK<BR> News - Press release - PIB....