July 05, 2008

Indian Steel Alliance dissolved

PTI reported that the association of major Indian steelmakers Indian Steel Alliance has been dissolved as members pulled out of it within seven years of its formation. The report cited Mr Sajjan Jindal vice CMD of JSW Steel as saying that "As of now, ISA stands dissolved.”

Incorporated in October 2001, the objective of ISA was to promote steel usage as well as development of the steel industry in the country among others. It was also entrusted with the task of examining the issues faced by domestic steel producers and conveys its views and concerns to the government.

ISA faced its first causality when TATA Steel withdrew from the alliance in 2004. Very recently, SAIL also pulled out of the alliance stating that ISA was required to do more on promoting steel use and sharing of data between the utilities, a function which is being now performed efficiently by Institute for Steel Development and Growth.

The ISA has been spearheading the campaign against government's move to set up a regulator in the steel sector to monitor prices and imposing export duty on steel. It ahs also been demanding export levy on iron ore.