kolkata indian steel sector may take another 1824 months for revival which is passing through a global oversupply crisis a steel ministry official said we have assessed the steel situation within the ministry and according to that assessment the industry is expected to remain under stress for the next 18 to 24 months ministry of steel joint secretary syedain abbasi said at bcci organised metals 2015 government is there to help out the industry in these difficult times we have imposed safeguard import duty on steel and have taken up the issue of easing the external commercial booking norms for the steel industry with the finance ministry he said indian steel demand is expected to remain robust in the current financial year 201516 with the consumption expected to rise 56 per cent a year he said i can understand the industry is facing unfair competition from the chinese producers but 57 per cent steel import is healthy domestic industry import is necessary for fair pricing of steel in the country he said despite of the stress in the sector indias total steel production is seen rising to 300 million tonne by the year 2025 abbasi added meanwhile steel companies were optimistic about long term and adding capacity jsw steel today said its steel capacity will increase to 18 million tonne by december 2015 and 30 million tonne by 2020 speaking about salboni steel project jsw group chairman sajjan jindal said that the project will depend on iron ore availability we will bid for iron ore mines in odisha and jharkhand and if we win and states allow to ship it out of the state then it will help salboni project jindal said currently the 10 million tonnes steel plant in bengal is in hold for lack of iron ore linkage pti published on sep 24 2015 at 0817 pm ist telegram facebook copy link be the first one to comment comment now comments comment now read comment 1 all comments post post find this comment offensive choose your reason below and click on the submit button this will alert our moderators to take actions reasons for reporting foul language defamatory inciting hatred against a certain community out of context spam others report join the community of 2m industry professionals subscribe to our newsletter to get latest insights analysis download etauto app get realtime updates save your favourite articles scan to download app auto components steel industry tata steel jsw steel jsw group indian steel sector tata steel processing and distribution limited homenewsraw materialsteel sector to see better days in 1824 months ministry official