| Date: |
01-08-2015 |
| Subject: |
Government issues Stainless Steel Products (Quality Control) Order, 2015 |
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KOLKATA: The government has issued a Stainless Steel Products (Quality Control) Order, 2015 in a bid to introduce stringent quality norms and rein in rising imports and that has crippled the domestic industry.
The order, issued by the union steel ministry on Thursday, will come into effect three months of its official notification. It makes it mandatory for all manufacturers of stainless steel flat products to seek a certification from the Bureau of Indian Standards (BIS). It prohibits "manufacture, storage, sale or distribution of any stainless steel product specified in the Schedule which do not conform to the specified standards and do not bear Standard mark of the BIS." However, it will not be applicable in case of exports which conform to any other specification required by the foreign buyer.
The domestic industry said the order will help curb import of sub-standard stainless steel into the country and help create conditions of free and fair competition. "Considering the diverse and extremely large strategic applications of stainless steel this order, if enacted, will go a long way in securing the interest of domestic consumers," NC Mathur, president of Indian Stainless Steel Development association (ISSDA) said.
According to the official notification, "Sub-standard or defective stainless steel products which do not conform to the specified standard, shall be disposed off as scrap as per the scheme of testing and inspection of the BIS."
It will be applicable to products like stainless steel sheets and strips for utensils, low nickel austenitic stainless steel for utensils and kitchen appliances and stainless steel plates, sheets and strips.
Stainless steel imports into India jumped 49% in volume terms over the previous year to cross 5.5 lakh tonne in 2014-15 against 3.7 lakh tonne in 2013-14, out of which China accounted for nearly half of the imports. Domestic stainless steel capacity is estimated at 27 lakh tonne with Jindal Stainless and Steel Authority of India among the bigger players. However, a substantial portion of this capacity has remained idle in recent months due to the onslaught of imports.
Source : economictimes.indiatimes.com
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