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Domestically Manufactured Iron and Steel Products Policy
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Domestically Manufactured Iron and Steel Products Policy

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Questions and Answers

What was the major revision made to the DMI&SP Policy in December 2020?

  • Excluded capitals goods from the policy coverage
  • Increased minimum prescribed value addition for domestically manufactured iron and steel products (correct)
  • Expanded the list of covered products to 50 items
  • Reduced the domestic content requirement to 10%

    • Which entities are included in the DMI&SP policy?

  • All private sector companies
  • Every Ministry or Department of Government (correct)
  • Manufacturers outside the country
  • Non-profit organizations

    • How did the new list of 49 products affect the competition for government contracts?

  • Made it harder for imported steel to compete (correct)
  • Excluded iron and steel products from government procurement
  • Reduced the minimum value addition requirement
  • Opened up more opportunities for foreign companies

    • Which schemes come under the purview of the DMI&SP Policy?

    <p>Every project funded in part by Government of India</p> Signup and view all the answers

    Why was the DMI&SP Policy introduced in the first place?

    <p>To provide preference to locally manufactured iron and steel products</p> Signup and view all the answers

    What is the minimum procurement value of iron and steel products for the policy to be applicable to projects?

    <p>Rs. 5 lakh</p> Signup and view all the answers

    Under what circumstance can Global Tender Enquiry (GTE) be invited for tenders related to procurement of iron and steel products?

    <p>When the estimated value is above Rs. 200 Crore</p> Signup and view all the answers

    What is the purpose of the DMI & SP Policy?

    <p>To promote growth and development of the domestic steel industry</p> Signup and view all the answers

    What is the function of the Steel Import Monitoring System (SIMS)?

    <p>To provide advance registration of intended steel imports</p> Signup and view all the answers

    How much import substitution has the DMI&SP Policy resulted in approximately?

    <p>Rs. 26,600 Crore</p> Signup and view all the answers

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