According to a ministry official, the government has taken several steps to protect the domestic industry. Financial incentives are also being provided...

The government is preparing to boost the steel sector, focusing on raw materials and production.

Steel Industry Protection: According to a ministry official, the government has taken several steps to protect the domestic industry, including imposing safeguard duty and anti-dumping duty on imports of flat steel products from countries like China and Vietnam.

To promote high-quality finished steel, the Ministry has implemented a Production Linked Incentive Scheme, which provides financial incentives for manufacturing high-end and special steel used in sectors such as defence, power supply, renewable energy, automobiles and aviation. 

The government is focusing on the supply of raw materials.

The government is also focusing on strengthening the availability of raw materials. "New coking coal deposits are being discovered and we are in talks with resource-rich countries to diversify supplies," the official said.

Auctions for iron ore are already underway and steelmakers are being encouraged to participate. 

Statement by Jindal Steel Chairman

Naveen Jindal, Chairman of Jindal Steel and President of the Steel Association of India, said India has made good progress, but further implementation is needed. He said the path forward requires sustained demand creation, policy stability, and bold investment.

Industry body Assocham said that while government support has been significant, rising coking coal costs, high logistics costs, limited availability of railway rakes, and infrastructure constraints continue to pressure the sector. Assocham expects steel demand to increase in the new year and believes further relaxation of quality control orders is unlikely.