GoI releases Steel Scrap Recycling Policy

The National Steel Policy that was released on November 8, 2019 aims at developing globally competitive steel industry. It aims at creating 300 million tons of steel per annum by 2030.  The policy was released by Ministry of Steel

Objectives of the Policy

• The policy aims at promoting scientific collection and processing activities of recyclable ferrous and non-ferrous scraps.
• The objective of the policy is to produce high quality ferrous scrap that helps to increase high quality steel production.
• It also aims in relieving cities from Extra Low Voltages and boost the reuse of ferrous scrap. Extra Low Voltage systems are deployed in commercial and residential buildings for better security and control. It mainly consists of CCTV and Intercom.
• It also promotes the ‘6R’ principle. It includes Reduce, Recycle, Reuse, Recover, Remanufacture and Redesign

Significance

• The Policy provides guidelines for collection, shredding and dismantling activities in a safe and sound environment.
• The Policy will envisage a framework to establish metal scrapping centers in the country.
• It will help in setting up environmentally sound ferrous scrap handling systems.
• India is currently importing metal scraps from African countries. Around 70% of the metal scraps comes from these countries. The policy will help reduce dependency on imports.

Month: Current Affairs - November, 2019