The Ministry of Steel has suspended enforcement of 55 Indian Standards under the Steel and Steel Products (Quality Control) Order, 2024. The move, based on recommendations of the High-Level Committee on Non-Financial Regulatory Reforms, aims to ease supply pressures, support MSMEs, and balance pricing impacts while ensuring industry resilience.
The suspension covers 42 standards for three years and 13 specialty steel standards for one year. The Ministry assessed concerns around downstream pricing, MSME access to raw materials, and reliance on imports for certain grades. Officials emphasized that the decision balances industry needs with consumer protection, while preventing unfair trade practices and promoting domestic self-reliance. The order will be reviewed annually to evaluate its impact on the sector.
Notable updates
* Enforcement of 42 IS standards suspended for three years
* Enforcement of 13 specialty steel standards suspended for one year
* Move designed to ease raw material sourcing for MSMEs and consumer industries
* Decision based on recommendations of the High-Level Committee on Non-Financial Regulatory Reforms
* Annual review planned to monitor pricing, supply, and trade practices
By suspending enforcement of 55 IS standards, the Ministry of Steel has provided breathing space for manufacturers and MSMEs, ensuring smoother supply chains and competitive pricing while maintaining oversight through periodic reviews.
Sources: Orissa Diary, The Week, Rediff Money, ET Infra, Lokmat Times, Ziraat Times