Ambarish Mukherjee

New Delhi , Feb. 5

STEEL exporters and manufacturers may have reasons to cheer.

After setting a target of 110 million tonnes of steel production in the country by 2019-20, the Government is considering plans to have dedicated steel capacities for exports.

Though the exact plan of arrangement has not been worked out, the idea has already been floated and has received in principle approval from within the Government, sources said.

But to examine it further at the highest level in the Government, the proposal has been included in the draft National Steel Policy.

According to official sources, the growth of steel exports from India has been around 10.4 per cent annually during the past 10 years.

While the business decision to export would always be linked to relative prices prevailing at any particular point of time, the Government would encourage dedicated export production, officials said.

The draft is now under consideration by the Government. The Committee of Secretaries will have to take a final view after which it would be placed before the Cabinet.

Export of steel and price differences between the domestic and international market had created major differences among the hot-rolled steel and the cold-rolled steel producers over the past two years.

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