Emphsis on clean and green steel, and zero waste.

Goods and Services Tax (GST), which came into effect 1 July 2017, is expected to bring down the time and cost of transportation and logistics by 40-45 per cent, said Steel Minister Chaudhary Birender Singh.

Singh said that the government’s emphasis was on production and consumption of clean and green steel.

Therefore, the policies provide for protection of human health, environment and safety of the people, said Singh during a workshop on ‘National Steel Policy 2017’ (NSP 2017) and ‘Policy for Providing Preference to Domestically Manufactured Iron & Steel Products in Government Procurement’.

He added that the industry should aim for zero waste and help in reducing the carbon footprints.

The roll out of the New Steel Policy, it was envisaged that the industry will be steered with appropriate policy support in creating an environment for promoting domestic steel, while ensuring a scenario where production meets the anticipated pace of growth in consumption and creating a technologically advanced and globally competitive steel industry that is self-sustainable and environment friendly.

Vishnu Deo Sai, Minister of State for Steel, stressed on the need to enhance competitiveness and quality and control the expenditure by way of reducing imports and the two new policies would be focusing on these critical issues.

The government, private sector and other stakeholders had worked in tandem to bring about these two comprehensive and robust policies.

Now was the time for effective roll out of the policies and for this the stakeholders needed to work in close collaboration.

New technology and structural growth was needed to boost the sector, he added at the workshop organized in the Federation of Indian Chambers of Commerce and Industry (FICCI). fii-news.com