ABSTRACT
Subsidies, protection, promotions and even caps on investments appear in the form of government policies around the steel industry. The indigenous steel industry started in India in the year 1907 with the setting up of the Tata Iron and Steel Company, or TISCO, by an Indian subject Jamshedji Tata. Steelmaking, being restricted to only a few producers, raised some uncertainties over the adequacy of supply. As demand increased, due to an increase in the levels of economic activities, and the rise in prosperity of the people, the challenge to increase the supply of steel became important. The focus of the National Steel Policy of 2005 was to enhance the production of steel, because it was felt that the demand for steel in India could only gallop in times to come. The Government of India actively promotes exports of all commodities and steel, gets the benefits of such export promotion measures as well.
