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Cabinet may make local steel compulsory for govt infra projects: Source

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The policy is broadly seen as a continuation of India’s protectionist stance against China & Russia

Reuters  |  New Delhi  May 3, 2017 Last Updated at 15:14 IST

The Indian cabinet may clear a proposal on Wednesday to make usage of local mandatory for government’s projects, an official with direct knowledge of the matter said, aimed at boosting sales of local companies and global makers’ investments.

The ministry’s flagship National Policy, which seeks to outline a roadmap to increase the country’s annual production to 300 million tonnes by 2025, is also expected to be passed in the cabinet, the official told Reuters.

The policy is broadly seen as a continuation of India’s protectionist stance against countries such as and

A ministry spokesman was not immediately available to respond to telephone calls from Reuters seeking comment.

It also comes in the backdrop of a trade probe launched by US President against cheap imports into the United States, in a move that could aggravate trade friction among global producers.

India wants to nearly triple its production capacity by the next decade and acquire technology to produce higher value products including automotive

The government policy will also provide a guiding light for Indian companies that are seeking to expand while saddled with huge debts.

In March, Reuters had reported the ministry was considering a move making it mandatory to use local – pitching it as a move.

India is also expected to soon announce long-term duties on some products imported from China, Japan and Russia, despite complaints from some of the targeted countries.

Between April and March, India’s imports fell 37 per cent year-on-year, data from a government body showed, primarily due to measures announced by the government.

The proposed National Policy, which was floated in October by Niti Aayog, an influential government think-tank that replaced the Planning Commission, recommended measures to also reduce dependence on imported coking coal, lack of which recently crippled production after heavy rains in Australia created shortages. 

Cabinet may make local steel compulsory for govt infra projects: Source

The policy is broadly seen as a continuation of India’s protectionist stance against China & Russia

The policy is broadly seen as a continuation of India’s protectionist stance against China & Russia

The Indian cabinet may clear a proposal on Wednesday to make usage of local mandatory for government’s projects, an official with direct knowledge of the matter said, aimed at boosting sales of local companies and global makers’ investments.

The ministry’s flagship National Policy, which seeks to outline a roadmap to increase the country’s annual production to 300 million tonnes by 2025, is also expected to be passed in the cabinet, the official told Reuters.

The policy is broadly seen as a continuation of India’s protectionist stance against countries such as and

A ministry spokesman was not immediately available to respond to telephone calls from Reuters seeking comment.

It also comes in the backdrop of a trade probe launched by US President against cheap imports into the United States, in a move that could aggravate trade friction among global producers.

India wants to nearly triple its production capacity by the next decade and acquire technology to produce higher value products including automotive

The government policy will also provide a guiding light for Indian companies that are seeking to expand while saddled with huge debts.

In March, Reuters had reported the ministry was considering a move making it mandatory to use local – pitching it as a move.

India is also expected to soon announce long-term duties on some products imported from China, Japan and Russia, despite complaints from some of the targeted countries.

Between April and March, India’s imports fell 37 per cent year-on-year, data from a government body showed, primarily due to measures announced by the government.

The proposed National Policy, which was floated in October by Niti Aayog, an influential government think-tank that replaced the Planning Commission, recommended measures to also reduce dependence on imported coking coal, lack of which recently crippled production after heavy rains in Australia created shortages. 

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Reuters

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