Introduction
The Indian Iron and Steel Management (IISM) is a statutory body, set up to promote and regulate the production, distribution and use of iron and steel in India. It works towards the development and implementation of a comprehensive strategy for the growth and sustainability of the iron and steel sector. The IISM also aims to ensure fair play and equitable access to markets and resources among the stakeholders and provide an efficient, transparent and accountable system of management.
Organizational Structure
The IISM is headed by a panel of four members appointed by the Central Government on the recommendation of a committee consisting of government representatives, industry members and other experts. The panel is in turn assisted by a Board of Directors. The Board consists of representatives of the Central Government, the State Governments, enterprises operating in the sector, regulatory bodies, such as the Competition Commission of India and the Securities Exchange Board of India and other related institutions such as the Ministry of Steel, Ministry of Commerce and Industry, the National Council of Applied Economic Research and the National Council of Engineering Research. The Board of Directors is responsible for setting policy and implementing the IISM’s programs and activities.
Activities
The primary activities of the IISM involve:
- Supporting the development of efficient and environmentally sustainable production and distribution systems for iron and steel items in India.
- Promoting research and development in the iron and steel sector.
- Monitoring and regulating the availability and prices of iron and steel products.
- Identifying potential areas of investment in the sector and formulating strategies to facilitate and promote the production, distribution and usage of iron and steel items.
- Formulating and implementing policies aimed at ensuring fair competition and equitable access to resources in the sector.
Conclusion
The IISM has been instrumental in the growth and development of India’s iron and steel sector. It is an important authority for regulating the production and distribution of iron and steel products in India. It has been successful in promoting the development of efficient and sustainable production and distribution systems, as well as in monitoring and regulating the availability and prices of these products in the country.
