Look, It’s true that basic trading in steel (e.g., buying and selling steel products) does not require any special industry-specific government approval in most cases. Any business can trade in steel as long as it is registered under GST, and follows regular business compliance procedures. But at the same time it’s important to have clear distinction between general trading and trading at scale in regulated commodities like steel.
Your statement is only true for someone who’s trading on a small scale or when the trading does not involve import, export, or large-scale infrastructure projects where regulatory frameworks come into play.
The scenario changes drastically when steel trading reaches a large scale or is linked to key infrastructure projects (such as Bharatmala, Sagarmala, Smart cities to name a few like I also mentioned above), export-import, or strategic sectors. In such cases, the steel used must meet the specifications set by relevant ministries, such as the Ministry of Road Transport and Highways or Ministry of Shipping. So for a large-scale supplier like SG Mart, they’ll certainly face additional regulatory oversight.
Also recommend reading about quality certifications like BIS registration, IEC, DGFT etc. Hope you too take the help of GPT to understand these concepts better 
https://www.dgft.gov.in/CP/
https://www.bis.gov.in/
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