Power Engineering
Saturday 10 February 2024
One Nation, One electrical License
Thursday 26 October 2023
Transformer ratio test magnetic voltage
Monday 21 August 2023
Madhya Pradesh’s first underground EHV cable
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ELECTRICAL TESTING TYPE TYPICAL
Saturday 29 July 2023
HAZOP
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Typical grade of stainless steel and application
Indian Government Initiatives for steel wire
The
Indian government has been providing support and nurturing the growth of the
steel wire industry through a number of policies. In 2017, the Indian
government introduced the National Steel Policy (NSP) aiming to take India’s
steel production capacity to 300 million metric tons by 2030, as well as
enhancing India’s domestic consumption, producing high-quality steel and making
India’s steel sector globally competitive. The NSP 2017 Policy was aimed to
boost economic growth through measures such as meeting steel demand
domestically through availability of raw materials and capacity additions and
in a cost-effective manner.
steel wire |
Under the recent Production Linked Incentive (PLI) scheme
for Specialty Steel, launched in 2021, the government aims to promote specialty
steel manufacturing in India, through attracting capital investment, generating
employment as well as promoting technology up-gradation in the steel sector.
With a major five-year financial outlay of INR 6322 crore, the scheme has taken
up 67 applications from 30 companies in December 2022. This will attract a
committed investment of INR 42,500 crore. The government’s support for the
steel wire sector will help the industry to grow and meet the growing demand
for steel wire products in India and around the world.
The government has also announced a policy for providing
preference to domestically manufactured iron and steel products in government
procurement. The government is providing incentives to put up steel wire plants
in rural and semi-rural areas, providing export incentives for export of high
carbon, alloy steel and spring steel wires, as well as reducing power tariffs
for industries to make them a viable unit.
Thereby, there are positive chances for growth of cable and wire industries. Some Key Players are-
1. SAIL
2. TATA steel
3. JSW
4. Jindal
5. AM/NS India
6. POSCO
It was around 11.68% of the total
export of Cable. The value of Cable exported from India in October 2020 was
101.49 USD million. Major countries where Cable was exported in October 2020
are USA(14.86), Bangladesh(8.27), Turkey(5.76), United Kingdom(5.51),
Ethiopia(4.94).
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