Since past many years, production of raw steel and its consumption has increased in India. However not all steel produced is used, yet we import, this is where the problem lies.
Minimum Import price may appear as a tool to safeguard domestic industry but it is a tool that kills incentives for innovation. No steel manufacturer hence tries to lower cost of production.
Both these sectors are part of the index of industrial production as they are the key players in country’s infrastructural and overall development. They need renewed focus from the policy makers.
China has disturbed steel industry of the world by over capacity and dumping its exports at cheap rates. All WTO members must protest this and ban this below-cost exports by China.
Government has helped steel sector by placing anti dumping and other duties on steel imports however imports are still high due to their cost effectiveness.
Similar to how the government hand held textile industry of India, cement manufacturers too need some sops. Regulations have to be cut down and excise duty waived off completely.
After demonetisation, the real estate sector has been hit very hard. Hence their will be a depression in steel and cement sector. If government can lower interest rates, it will help.
Import of raw material adds to the cost of steel manufacturing. Import duties on such materials be lowered down to let domestic players become competitive.
Unless labour laws are all consolidated and structured, job growth is very hard. Trade unions must come close to the government on amendment of labour laws rather than delaying the matter.
Hard to believe that unemployment rate is one of the highest presently at above 5 percent. Modi and his team have to look for ways to augment industries that are labour intensive.
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Without innovators I think it is not possible…
some people extorted to do innovation, some people attack for those who make innovation
some people enjoy money, and occupancy without making innovation
so, if you have inovation, do not always spread it to other countries
Since past many years, production of raw steel and its consumption has increased in India. However not all steel produced is used, yet we import, this is where the problem lies.
Minimum Import price may appear as a tool to safeguard domestic industry but it is a tool that kills incentives for innovation. No steel manufacturer hence tries to lower cost of production.
Both these sectors are part of the index of industrial production as they are the key players in country’s infrastructural and overall development. They need renewed focus from the policy makers.
China has disturbed steel industry of the world by over capacity and dumping its exports at cheap rates. All WTO members must protest this and ban this below-cost exports by China.
Government has helped steel sector by placing anti dumping and other duties on steel imports however imports are still high due to their cost effectiveness.
Similar to how the government hand held textile industry of India, cement manufacturers too need some sops. Regulations have to be cut down and excise duty waived off completely.
After demonetisation, the real estate sector has been hit very hard. Hence their will be a depression in steel and cement sector. If government can lower interest rates, it will help.
Import of raw material adds to the cost of steel manufacturing. Import duties on such materials be lowered down to let domestic players become competitive.
Unless labour laws are all consolidated and structured, job growth is very hard. Trade unions must come close to the government on amendment of labour laws rather than delaying the matter.
Hard to believe that unemployment rate is one of the highest presently at above 5 percent. Modi and his team have to look for ways to augment industries that are labour intensive.
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