Government mulls awarding infra status to steel sector: Report

NEW DELHI: Shares of steel companies hogged limelight after a report stated the government may give infrastructure status to the sector.

“Government is considering various options for promoting the steel sector. It mulls awarding infra status for the sector,” ETNOW said quoting sources.

The BSE Metal index traded 0.69 per cent higher at 9,209 at around 12.40 pm (IST), while the benchmark BSE Sensex was down 1.12 per cent at 38,181.


The report further added that the Department for Promotion of Industry and Internal Trade (DPIIT) is in talks with steel ministry to impose BIS standards for all steel products.

The government may introduce offset policy for steel. “Offset policy may include minimum 30 per cent local addition for import of high-grade steel,” ETNOW said.

The empowered committees may also be set up to expedite clearances, the report added. These committees to fast track land, infra, forest and environment clearances.