(PTI)
The domestic steel sector is facing challenges in form of high input costs and unavailability of coking coal in the country, SAIL chairman A K Chaudhary said on Saturday, and conveyed that the government is aware of the issues and taking appropriate measures to resolve them.
He was speaking at a session on ‘India: Roadmap to a USD 5 trillion economy’ organised by industry chamber FICCI here. High input cost is a concern for the industry, the Steel Authority of India Ltd chairman said adding that the production cost of steel in India is the highest at present. One of the major factors contributing to high production cost is tax, he said.
“However, the government is well aware of the issues and is taking appropriate steps and measures to overcome these challenges,” Chaudhary said. The royalty is close to 20 per cent on the input material, whether it is coal or iron ore and freight cost is higher than what is being paid in other countries, the SAIL chairman said adding that electricity also adds to the high production cost.
