The Indian cabinet may clear a proposal on Wednesday to make usage of local steel mandatory for government’s infrastructure projects, an official with direct knowledge of the matter said, aimed at boosting sales of local companies and global steel makers’ investments.
The ministry’s flagship National Steel Policy, which seeks to outline a roadmap to increase the country’s annual steel 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 China and Russia.
A steel ministry spokesman was not immediately available to respond to telephone calls from Reuters seeking comment.
read more- reuters
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