Prelims: Current events of national and international importance| Government Policies and Interventions
Why in news?
India's Draft National Steel Policy targets over 600 million tonnes of crude steelmaking capacity and 500 million tonnes of consumption by 2047, aligning with the Viksit Bharat roadmap.
- Announced by – Steel Secretary Sandeep Poundrik.
- The framework replaces the older National Steel Policy 2017 to address rapid industry growth, modern technologies, and sustainability.
Core Targets & Projections
- Capacity Expansion – Scales capacity from 220 million tonnes (as of fiscal 2026) to over 600 million tonnes by 2047.
- Raw Material Demand – Projections estimate iron ore requirement at 772 million tonnes and coking coal at 214 million tonnes.
- Emissions Reduction – Aims to lower average carbon emission intensity from 2.54 to 1.54 tonnes of CO₂ per tonne of crude steel.
Key Policy Pillars
- Viksit Bharat Ispat Scheme – A ₹5,000 crore financial outlay dedicated to incentivizing small and secondary steel producers for technology upgrades and emission cuts.
- Specialty Steel Push – Focuses on 175 specialized projects catering to defense, aerospace, high-speed rail, and automotive sectors.
- Raw Material Security – Emphasizes domestic resource efficiency alongside overseas asset acquisitions by major players.
- Trade Measures – Proposes anti-dumping and safeguard duties to counter cheap, subsidized flat steel imports.
- Advanced Tech Integration – Promotes artificial intelligence and machine learning to optimize efficiency and operational safety.
Reference
DD News| India Unveils Draft National Steel Policy
