Ministry of Steel Giving Awards To Secondary Steel Sector

1. For the first time, the Ministry of Steel will be giving away awards to the secondary steel sector on 13th September 2018 at a function in New Delhi.
2. The awards have been instituted in order to encourage the secondary steel sector as it plays a key role as a growth engine for the national economy and employment generation.
3. The Government of India has taken various initiatives to improve the performance of this sector. A few such initiatives are:-

• Supporting energy efficiency projects (Energy conservation and control of GHG emission) and
• R&D activities, strengthening institutional support, protecting domestic producers.

4. Based on the present growth pattern, it is expected that India will rise to the second position after China. The National Steel Policy 2017 has set a target of 300 million tonnes per annum of production capacity by 2030. The production capacity in 2017-18 has already reached 137.97 million tonnes (MT).
5. India has achieved 103.13 million tonnes in 2017-18 against the production of 97.94 in the year 2016-17.