Policy Framework on the Anvil for Development of Steel Clusters

Pradhan further said that the steel clusters shall not only help the country become “Atmanirbhar in value-added steel” and capital goods but would also generate employment, especially in the eastern part of the country covering the states of Chhattisgarh, Jharkhand, West Bengal, Odisha and Andhra Pradesh as part of the ‘Purvodaya’ initiative of the Ministry of Steel.

In January 2020, the minister had launched “Mission Purvodaya” which aims at accelerated development of eastern India through integrated steel hubs. The eastern belt has the potential to add more than 75 per cent of the country’s incremental steel capacity envisioned by the National Steel Policy, he had said while launching the mission. Pradhan said it is expected that out of the 300 million tonne capacity by 2030-31, over 200 million tonne can come from this region alone.

The mission will also drive India’s march towards the $5 trillion economy set by the government. The domestic production of value added steel is expected to rise in view of modernisation and expansion of integrated steel producers, level playing field now available to large MSMEs sector in India and likely investment by foreign steel producers, as per the Government.

Steel Secretary is of the opinion that with the level playing field being made available to the MSMEs, both users and producers will have an expanded value chain for their manufacturing activities. (PTI)