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."
Bu hikaye Financial Express Bengaluru dergisinin January 01, 2025 sayısından alınmıştır.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber ? Giriş Yap
Bu hikaye Financial Express Bengaluru dergisinin January 01, 2025 sayısından alınmıştır.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber? Giriş Yap
CAG red flags expenses by firm behind RRTS
Matter Under Investigation
Court Acquits Khaleda Zia in 10-Year-Old Sabotage Case
A court in Bangladesh acquitted BNP Chairperson and former prime minister Khaleda Zia on Wednesday in a sabotage case filed in the southeastern Cumilla district 10 years ago.
Netflix posts a record quarter thanks to sports, 'Squid Game'
NETFLIX CLOSED 2024 with its biggest quarterly subscriber gain in history, buoyed by its first major live sporting events and the return of Squid Game.
Slow growth in foldable phones demand: Oppo
CHINESE SMARTPHONE MAKER Oppo said the company is not keen on launching foldable phones in India presently as the demand is yet to pick up for the product segment across the industry.
Retail space leasing in malls falls 10% in 2024
LEASING OF RETAIL spaces in shopping malls and high streets fell 10% last year to 6.4 million sq ft across eight major cities due to supply constraints, from 7.1 million sq ft in 2023, according to CBRE.
H-1Bs fill key skills gap: Nasscom
Reducing Reliance
Healthcare gets tech booster dose
AI, ML and IoT can make healthcare more inclusive
Israel-Hezbollah truce set to extend beyond next week
THE CEASEFIRE AGREEMENT that paused the war between Israel and the Hezbollah militia in Lebanon will likely be extended when it expires next week, according to several people familiar with the matter.
Hints at Possible Russia Sanctions if Ukraine Issue Fails
US PRESIDENT DONALD Trump has said he is ready to meet his Russian counterpart Vladimir Putin anytime, but at the same time warned that he would likely impose sanctions on Russia if the latter does not come to the negotiations table on the issue of Ukraine.
Jute MSP increased by 6% to ₹5,650/quintal
THE CABINET COMMITTEE on economic affairs on Wednesday hiked the minimum support price (MSP) of raw jute by 6% to ₹5,650/quintal for the 2025-26 marketing season.