Ministry of Steel issues Draft Framework Policy for development of Steel Clusters in India

Nov 20, 2019 | by Avantis RegTech Legal Research Team

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Commercial Compliance

The Ministry of Steel has issued the Draft Framework Policy for development of Steel Clusters in India. The policy aims to create a model ecosystem for steel manufacturing through world class steel clusters to promote self-sufficiency, drive cost competitiveness and generate employment opportunities.

This policy targets industrial clusters/locations with high growth potential, which require strategic interventions by way of providing world-class infrastructure and other relevant support services. The policy will cover development of both new and existing clusters.

The mission of the policy is as under:

(1)    Drive Make in India initiative through promotion of domestic manufacturing industry, hence facilitating import substitution;

(2)    Contribute to GDP growth and generate employment across the value chain;

(3)    Drive growth of SME steel players by improving their cost competitiveness and quality of their finished products

Eligibility criteria: The application can be initiated by any of the following entities:

(1)    Land Owning Entity and a non-land owning entity;

(2)    An SPV/association managing an existing steel cluster can also apply to register under the ambit of this Policy;

(3)    Ministry of Steel may also propose locations for setting up of new or revitalization of existing clusters.


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