 "H D Kumaraswamy, Kumaraswamy")
India, the world’s second biggest crude steel producer, was a net importer of steel through the fiscal year ending March 2024, and remained a net importer from April to July (Photo: PTI)
The steel ministry is in discussions with the finance ministry to explore policy measures aimed at curbing the rising imports of steel, including imposition of a minimum import price and protecting the domestic industry, Union Minister H D Kumaraswamy said on Wednesday.
Acknowledging that tackling imports of steel was the “main issue”, the steel minister said efforts are also being made to strengthen the domestic alloy industry.
Asked if we can expect a Minimum Import Price on steel, the minister said: “Definitely, we will convince the finance ministry. Already preliminary discussion is going on. I have confidence we will convince. To strengthen (the industry) how we have to implement the duties that (decision) we will take”.
He also asserted that he is determined to breathe life into Rashtriya Ispat Nigam Limited, which has been facing protests from various parties against the proposed privatisation of its Visakhapatnam steel plant.
“RINL challenge is there. The protest is going on in RINL since last 1.5 years but I’m trying to give re-life to RINL. I am not going to let down,” said Kumaraswamy.
The minister for steel and heavy industries was speaking on the sidelines of an event here.
First Published: Sep 18 2024 | 12:13 PM IST
