The move has the twin objectives of improving the quality of infrastructure and assorted hardware manufactured in the country, and putting curbs on cheap imports that hit domestic producers across the steel value chain.
The plan, once implemented, will bring 1,000 more grades of steel under the quality control order (QCO), in addition to 1,376 items currently under the norms.
The Bureau of Indian Standards (BIS) formulates standards for steel. The steel ministry issues QCO, which mandates that only quality steel conforming to the relevant BIS standard notified under QCO is produced in the country and imported from outside. Steel grades not yet covered by BIS standards are imported with a no objection certificate (NOC) from the steel ministry.
A steel ministry official said, "We are trying that in the next one year, we can bring all the grades, which are there, under BIS standards, so that poor quality steel does not get imported. It works both ways to regulate imports as well as to ensure the quality of the products. So that is the one non-tariff barrier we are working on. These are also part of the measures we are taking to ensure our industry remains competitive."
This story is from the January 01, 2025 edition of Financial Express Ahmedabad.
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This story is from the January 01, 2025 edition of Financial Express Ahmedabad.
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