Steel Ministry unveils sports policy, aims to groom Olympic medal hopes

The Maharatna and Navaratna CPSEs will contribute Rs 5 million each every year for the initiative

The Ministry of Steel launched a corporate sports policy for government-run steel companies on Monday to contribute towards development of sports in India.

Under the policy, Central Public Sector Enterprises (CPSE) will aim to groom sizeable number of medal hopes for the Olympics and other international level competitions and tournaments.

"The steel sector contributes nearly 2 per cent in country's GDP and its time we also contribute towards making India a healthy and proud sporting nation," Chaudhary Birender Singh said at the launch.

The policy will be executed by Apex Sports Body (ASB), to be formed by government-run steel companies.