SEBI Reg. Investment Advisor

Download App

MoneyWorks4Me

New steel minister set priorities, aims to reduce imports, increase exports

15 Jul 2016 Evaluate

Government is contemplating cutting down on imports and increasing consumption of steel, new steel minister Chaudhary Birender Singh after assuming charge has started setting priorities towards the sector in order to improve the efficiency of the sector and ensure that the products are best in the world. Steel being an important sector which contributes 2% of the GDP, Singh aims to cut down imports of steel, increase exports and also enhance domestic consumption.

The new minister has said that he would ensure result oriented performance of the sector and would work enthusiastically for the promotion of the steel industry and to protect the interests of the industry in order to make it globally competitive. Singh said that the country’s steel imports should be cut to a size in a way that the exports become competitive and further the country will be able to save forex. His ministry is likely to extend the minimum import price (MIP) on steel for another six months after the first term ends on August 6. Till now, the ministry has taken a lot of other initiatives to curtail imports, including anti-dumping duty on some products.

On export front, Singh said that exports which are on the diminishing phase due to the global trend, domestic anaemic demand and subdued prices, can be increased only when India become more competitive than the rest of the world. Global exports of steel fell by 4.15% last year and hence the domestic industry has also got affected. Singh also wants to enhance domestic consumption of steel, which is nearly one-fourth of the global average of 234 kg, with special emphasis on rural areas where the per capita consumption is just 12 kg.


About MoneyWorks4Me

MoneyWorks4Me is a SEBI-registered Investment Adviser (IA) dedicated to helping investors build long-term wealth through transparent, research-driven, conflict-free guidance. Founded in 2008, we started our journey as a Research Analyst (RA), providing deep fundamental analysis, intrinsic value insights, and long-term investing frameworks for Indian equities. In 2017, we transitioned to a full-fledged SEBI-registered Investment Adviser, strengthening our commitment to acting as a fiduciary—always putting the investor’s interest first.

Our Vision

To become India’s most trusted, research-powered fiduciary advisory platform—where every investor, regardless of experience, can make calm, confident, and well-reasoned investment decisions.

What Makes MoneyWorks4Me Different

Our Approach: Ensuring compounding work its magic on client portfolio.

MoneyWorks4Me ensures this through: