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India was the world’s second-largest crude steel producer with production standing at 9.8 Mt in October 2021. The manufacturing sector of any economy is one of the key drivers of its employment and growth. National steel policy has envisioned the steel capacity with 300 MT and per capita consumption to 160 kg by 2030. Per capita steel consumption directly correlates with GDP in any developing economy. In the quest towards US$ 5 trillion economy, steel sector in India is therefore expected to play a significant role. 

The growth in the Indian steel sector has been driven by domestic availability of raw materials such as iron ore and cost-effective labor. ASSOCHAM National Council on Steel has leading players from the steel industry. The council has been constituted to bring forth the issue and concerns of the steel industry to the Government and help in promoting research and development and strategy to enhance steel consumption in the country. ASSOCHAM council holds discussion on important policies and issues which are faster resolution of stressed assets, issue of cheaper import due to FTA’s, raw material security and strategies to enhance per capita consumption of steel.  

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