Production of Sponge Iron
The Minister of Steel, Shri Beni Prasad Verma has said that as per ranking by the World Steel Association during 2010, India was the largest producer of sponge iron and 4th largest producer of crude steel in the world.
In a written reply in the Rajya Sabha today he said, the role of Government in a liberalized economic/market scenario like India is that of a facilitator. In this capacity, the Government has released the National Steel Policy which has laid down the broad roadmap for encouraging supply side growth for the Indian steel industry. An Inter Ministerial Group (IMG) has also been constituted in the Ministry of Steel having representation from the concerned Ministries/Departments and State Governments, to monitor and coordinate issues concerning major steel investments. The Group meets regularly to monitor and review coordination problems concerning steel investments.
He said, during 2010-11, provisional data from Joint Plant Committee (JPC) indicates that overall capacity utilization for production of crude steel in India stood at 89%. Steel is a deregulated sector. As such decision to increase/moderate capacity utilization is taken by the steel producers based on prevailing market conditions of demand and supply, both domestic and international.