Domestic steel manufacturers facing an onslaught of cheaper steel imports from China, Japan and Korea are likely to get some support with Road Transport and Highways Minister Nitin Gadkari stating that the government will soon launch a portal for sale of steel at competitive prices to boost construction activity.
The minister drawing encouragement with 95 lakh tonnes of cement getting booked online said that “We will soon launch a webportal through which steel will be available for government sector at competitive prices by steelmakers as we did in cement.” Three lakh tonnes of cement have been sold while 95 lakh tonnes have been booked by various government departments through the portal where 37 cement makers have got 117 factories registered
The portal will ensure that various steel makers register themselves there and any state or central government department can book the steel through it. The minister said that the basic idea behind this is to boost construction activities in the country which in turn will accelerate economic growth. Also, this will make the system corruption free, transparent and time bound.
Domestic steelmakers have raised voice and are seeking steps from the government to counter cheap and large imports from China, especially after it recently devalued its currency considerably. Indian Steel Association has also recently written to the Steel Ministry to intervene to check cheap imports.