Cap on steel prices not needed in an open economy: JSPL
Addressing a webinar organised by Care Ratings, V R Sharma, the managing director of JSPL said the government should instead lead by example by asking PSUs like Steel Authority of India Ltd and Rashtriya Ispat Nigam Ltd to reduce prices
Sumant Banerji | December 29, 2020 | Updated 21:06 IST
With the mood turning against the industry, Sharma of JSPL admitted that prices need to get stable over the next few months and the industry needs to be cautious about any further hike
As the clamour for curbing runaway prices of steel in the domestic market is gaining momentum, one of India s largest integrated steel companies Jindal Steel and Power Ltd has said the government should resist the temptation to cap prices of the commodity and not set a benchmark on profitability in an open economy.
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Gadkari cautions steel makers against profiteering; says projects getting unviable, writes to PM
The road transport, highways and MSME minister also said if the players failed to curb the practice, the government will have to change policies and encourage alternative technologies in projects.
Nitin Gadkari
Cautioning against profiteering by steel makers, Union Minister Nitin Gadkari on Thursday said he has sought Prime Minister Narendra Modi s attention towards 55 per cent hike in steel prices by players during the past six months, making projects unviable.
The road transport, highways and MSME minister also said if the players failed to curb the practice, the government will have to change policies and encourage alternative technologies in projects.
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