Centre: PM Gati Shakti-National Master Plan for steel sector

23 Mar 2022 , 11:16 AM

The ‘Make in India’ initiative of the Government of India ensures that domestically manufactured steel and steel products are utilized in the country. The Government has notified Domestically Manufactured Iron and Steel Products (DMI&SP) Policy on May 8, 2017, and subsequently revised on May 29, 2019 and December 31, 2020. This has resulted in the growth of the domestic steel sector by import substitution of around Rs22,400 crore so far.

This information was given by the Union Minister of Steel Ram Chandra Prasad Singh in a written reply in the Rajya Sabha.

The PM Gati Shakti National Master Plan is an Rs100 lakh crore investment plan for infrastructure development over the next five years.

The various initiatives for infrastructure development under the plan will boost the demand for steel in various sectors thereby enhancing steel usage and growth of the steel sector. These initiatives, being undertaken by Central Government, have a development impact across the country including the State of Karnataka.