Policy to promote steel products made domestically
The Dollar Business Bureau The Government has approved a Policy for providing preference to domestically manufactured iron & steel products (DMI&SP Policy) in government departments, agencies, ministries which comes into effect from May 8, 2017. The policy mandates that all government bodies, offices, ministries, agencies etc should procure domestically manufactured steel products, in which a minimum value addition of 15% has taken place locally. The policy is applicable to the procurement of iron & steel products having an estimated aggregate value of Rs 50 crores or more. The policy also details that procurements that do not meet the steel specifications as desired by the government body or if the specific grades of steel are not manufactured in the country, or the quantities cannot ...
Indian government to ensure no steel products are imported in the guise of finished products
The Dollar Business Bureau The Union Minister for Steel Chaudhary Birender Singh on Friday said the government will ensure that steel products are not brought into the country in the guise of utensils or finished products. “We are keeping an eye on the import of steel in guise of finished products. We will not allow such kind of practice even in trade,” Union Minister of Steel Chaudhary Birender Singh told reporters after addressing a meeting of the National Steel Consumers’ Council here. He stated that the government has been successful in reducing steel imports by 37% which were mostly from China in FY 2017.This happened due to India's tough anti-dumping measures and also due to the withdrawal of the Minimum Import Price of ...
Mining Amendment Act to simplify procedures, avoid delays
The Dollar Business Bureau The Steel & Mines Minister, Narendra Singh Tomar, on Thursday, said the Mines and Minerals Development and Regulation (MMDR) Amendment Act will simplify the procedures and avoid delays in mining sector. Addressing the media, the Union Minister informed that once the Act is notified in a week’s time, the States will be provided with the draft rules of the Act to go ahead with the simplified mining procedures. The Union Minister further informed that the States will no longer have to wait for the Centre’s approval for a mining process, as the Act (Section 5(2)(b)) allows the State Governments to devise a system for filing of a mining plan avoiding the need for prior approval ...
