Steel policy likely by year end: Tripathy

NEW DELHI: The government hopes to put in place a steel policy by the end of the year laying down the roadmap for future development of the sector.
"We hope to have a steel policy in place by the end of this year", Steel Minister Braja Kishore Tripathy told reporters on the sidelines of a conference on global steel issues.
Tripathy said his ministry had already circulated a draft document on the issue for discussions amongst various stakeholders. The document would envisage a roadmap for development of the sector.
Asked whether a second round of restructuring was on the cards for steel sector companies, the minister said the Reserve Bank was working on the issue.
Earlier, speaking at the conference called to firm up India''s response to efforts by developed world to ink an agreement on steel subsidies, he said domestic industry may require some support in the future owing to deficiencies in infrastructure and financial markets.
Tripathy opposed moves by a section of the developed world to take up trade related issues, namely subsidies and government support, outside the WTO forum and added that they alone were not responsible for market distortions in the sector.