The Steel Ministry of India has decided to extend the DMI&SP policy by six months

The extension goes beyond the previous deadline of May 29, 2024, as stated in a notification.

The DMI&SP is a government policy in India that prioritizes the procurement of locally manufactured iron and steel products in tenders issued by public sector undertakings. Under this policy, preference is given to iron and steel products that have undergone a value addition of 15% to 50%. It applies to the supply of iron and steel products with an estimated value of INR 5 lakh (500,000 Indian Rupees or 6,043 USD) or higher. The aim of the policy is to promote and support the domestic iron and steel industry by encouraging the consumption of locally produced materials in government projects and procurement. Additionally, the policy includes provisions for exceptions in cases where specific grades of steel are not manufactured domestically or when the required quantities cannot be met through domestic sources to fulfill project demands.

Initially introduced in May 2017, the policy underwent revisions in 2020 to encompass all Centrally Sponsored Schemes (CSS) involving procurement by States and Local Bodies. Furthermore, any procurement under projects or schemes funded wholly or partially by the central government must adhere to the preference for local sourcing mandate.