Government to form panel to make steel available for engineering exports

Indian Express reported that government has decided to set up a committee under the Director General of Foreign Trade to look into the availability of steel at competitive prices for engineering goods exporters. An official said that The committee will submit its report to steel and commerce ministries within two months. It will suggest measures which will be a win-win situation for both steel producers and engineering exporters. Engineering goods exporters are demanding that they should get steel at global prices as domestic rates are higher. However, steel producers state that freight charges and cost of production are high in the country, which push up prices. The decision to set up the committee, which will also have members from the engineering sector, was taken during a meeting last week between the senior officials of steel and commerce ministries and exporters.

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