SME Times News Bureau | 06 Dec, 2021
As per the information received from Directorate
General of Commercial Intelligence and Statistics, the share of export of
specified MSME related products to All India exports during 2019-20 and 2020-21
was 49.8% and 49.4% respectively.
was given by Union Minister for MSME Narayan Rane in a written reply in Rajya
Sabha on Monday.
The MSME sector is an important sector of the
Indian economy. As per the information received from Central Statistics Office,
Ministry of Statistics & PI, share of the MSME manufacturing in All
India manufacturing gross value output during the year 2018-19 and 2019-20 were
36.9% and 36.9% respectively.
The minister added that Government of India has
taken various steps to ensure continuous supply of raw materials to MSMEs
including steel. Some of the steps taken to meet the raw material demands of
MSMEs in the Steel Sector.
The Government has taken various steps to
increase availability of iron ore and steel which include, inter-alia, Mining
and Mineral Policy reforms to ensure enhanced production and availability of
iron ore, early operationalization of forfeited working mines of Odisha by the
State/Central PSUs etc., besides ramping up production and capacity utilization
by steel producers.
In Union Budget 2021-22, Customs Duty has been
reduced uniformly to 7.5% on Semis, Flat and Long products of non-alloy, alloy
and stainless steels. Further, Basic Custom Duty (BCD) on steel scrap has been
exempted for a period up to 31 st March, 2022. In addition to the above, ADD
and CVD on certain steel products have also been revoked / temporarily revoked.
To give relief to secondary and MSME sector steel
industry engaged in Housing/construction sector, TMT bars below 8 mm have been
exempted from the purview of the Quality Control Order, as these are primarily
used for non-critical applications;
Ministry of Steel has also issued clarifications
to CPWD, MoRTH etc., that steel produced through various routes of production
using iron ore, steel scrap and DRI should be treated at par if the steel
produced conforms to the relevant BIS standards.