DOMESTIC steel industry is still recovering from the last years’ global slump in the sector followed by largescale dumping in India, particularly from China. Short-term measures, such as imposition of anti-dumping duty on cheap imports, did provide some respite to the Indian industry. Still steel companies account for little less than 20 per cent of the total non-performing assets (NPAs). Thankfully, country’s economic engine is running fast as India is one of the fastest growing economies. The Modi government is making efforts to accelerate it further by focusing on infrastructure creation, which has a direct bearing on the domestic steel sector. Indian steel sector has grown rapidly to become the third largest producer after China and Japan. It also holds the same global rank in terms of consumption.
http://www.gfilesindia.com/new-steel-policy-2017-recalibrate-to-be-globally-competitive/
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