PSUs, Railways place ₹8,129-cr orders with domestic steel makers
In a big boost to the ‘Make in India’ drive, government PSUs and the Railways have placed orders for iron and steel to the tune of ₹8,129 crore with domestic manufacturers during June 2017 to October 2018, the Ministry of Steel said on Friday.
It said with such orders demand for domestic iron and steel products has witnessed a substantial growth.
It said the Ministry of Railways, ONGC, GAIL, EIL and HPCL have placed orders with domestic iron and steel manufacturers for various categories of rails, pipes and tubes. These products were earlier imported but are now being procured from domestic producers.
“Discussions are on with Ministry of Railways to increase consumption of rails manufactured indigenously either through SAIL or other domestic manufactures. Efforts are also being made to onboard sectors like Defence and CPWD so that the use of steel products manufactured in India grows,” the statement said.
The Ministry of Steel had organised a conclave in Bhubaneswar last month for domestic manufacturers of capital goods meant for the steel sector. “In this conclave MoUs worth ₹39,400 crore were signed between foreign capital goods manufacturers and technology providers with Indian capital goods manufacturers and steel producers,” it said. This will result in the manufacturing of capital goods for the steel sector within the country in the next four years.