Indian Steel Industry Comes Of Age

| March 28 , 2016 , 19:02 IST
India has long suffered the scourge of dumping of goods across sectors as it did not set standards for various products manufactured and sold in India. steel industry So, even as western nations used the post-WTO world of in order to their advantage by setting standards which largely restricted sub-standard imports, India continued to suffer. But all this will change at least for the steel sector as the Ministry of Steel has directed that steel sold in India should have a bureau of the Indian standards (BIS) mark and confirm to those standards starting the third week of September. The directive issued by the government covers almost all kind of steel sold in the country. The Indian steel industry is in the red for the past two years or so due to rampant dumping of steel in India of all qualities in the absence of any quality directives issued by the government. The latest measure will go a long way in preventing wanton dumping the country which posed a threat to the very existance of domestic steel Industry, not to mention putting lakhs of jobs at risk. The order issued by the government states that 15 varieties steel sold in India should confirm to BIS. Even steel being imported in India should first confirm to BIS. The steel that would now have to confirm to BIS standards include mild steel and medium tensile steel bars and hard drawn steel wire for concrete reinforcement; Part 1 mild steel and medium tensile steel bars; mild steel and medium tensile steel bars and hard drawn steel wire for concrete reinforcement, Part 2 hard drawn steel wire; Cold rolled low carbon steel sheet and strip; carbon steel billets, blooms, slabs and bars for forging; mild steel for metal arc welding electrodes; steel chequered plates; cold rolled steel strips (box strapping); hot rolled steel flat products for structural forming and flanging purposes; hot rolled steel plate (upto 6m) sheet and strop for manufacturing of low pressure liquified gas cylinder; hot rolled bars for production of bright bars and machined parts for engineering applications; mild steel wire rods for engineering purposes; hot rolled steel for welded tubes and pipes; hot rolled carbon steel strip for cold rolling purposes; hot rolled steel narrow width strop for welded tubes and pipes. The quality control order issued by the government will go a long way in improving and standardising the quality of steel sold in India.