The Cabinet Committee has approved National Steel Policy to make Indian industry globally competitive.
New Delhi: The Cabinet Committee on Economic Affairs (CCEA) on Thursday approved the National Steel Policy (NSP) which enable India to have steel industry of world standards, catering to diversified steel demand.
"The aim of the policy is to make the Indian steel industry globally competitive in terms of cost, quality and product," Information and Broadcasting Minister S Jaipal Reddy said.
This will require indigenous production of over 100 million tonnes per annum by 2019-20 from the 2004-05 level of 38 million tonnes per annum.
This will result a compounded annual growth rate of 7.3 per cent per annum.
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