India’s crude steel output was 68.32 million tons during 2010. The country managed to expand the capacity for crude steel production from 72.76 million tons per annum mtpa in 2009-10 to 78 mtpa in 2010-11.
According to government, public sector steel companies performed well during the year. Their combined profit after tax was Rs8605 crore during the period April-December 2010.
Realising it report card for the year 2010-11, the government said that the process of drafting a new National Steel Policy has been initiated. “A five year strategy paper has been prepared for promotion of the steel sector. A policy paper on research & development has also been prepared with special focus on beneficiation, coal ash reduction and promotion of high grade value added steel in the country,” it added.
To enhance the productivity, efficiency and competitiveness of the steel sector, the government said, a number of innovative R&D proposals and research projects were approved at a cost of Rs 442 crore.
