India, Sept. 30 -- The Government is formulating a new steel policy aimed at boosting capacity additions to achieve 600 million tonnes of capacity by 2047 and enhancing industry competitiveness while addressing key import challenges, Steel Secretary Sandeep Poundrik said on Tuesday. The new National Steel Policy (NSP) will be put in the public domain for stakeholder feedback in about a week, the secretary said at an event here.

The NSP will set a roadmap through 2047 for the Indian steel industry to reach over 600 million tonnes of capacity by 2047, with a higher share of value-added and special steel.

The official also said an incentive scheme is being formulated with an outlay of '5,000 crore for MSME steel units to encourage emission...