Degree of Globalization Country Wise in Steel Industry

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  • Topic: Steel, Competitiveness, Global steel industry trends
  • Pages : 16 (5862 words )
  • Download(s) : 17
  • Published : December 5, 2012
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Title of the Paper: AN ANALYSIS OF DEGREE OF GLOBAL COMPETITION COUNTRY WISE IN STEEL INDUSTRY. Author’s Name:
1. Dr. Paroma Mitra Mukherjee
Designation: Assistant Professor
Official Address: Asia Pacific Institute of Management, New Delhi- 25. Temporary Residential Address: 105 C, Pocket A3, Mayur Vihar Phase-III, New Delhi-96 Permanent Residential Address: 2/117 Hospital Road, B-Zone, Durgapur, West Bengal, India.Pin-713205 E-mail: paromamitra@rediffmail.com

Mobile: 09871910557

2. Professor Dr. Dilip Roy
Designation: Ex - Director
Official Address: Centre for Management Studies, Burdwan University, Golapbag, Burdwan, W.B. 713104, India. Residential Address: Nivedita Palli, Post- Sripalli, Burdwan – 713103. E-mail: dr.diliproy@gmail.com Website: www.sirdr.webs.com

Telfax-(0342)2559774, Fax- (0342) 2634200,

KEY WORDS: Global competition, crude steel production, market share.
ABSTRACT
The degree of competition helps to examine the present status and future prospects of an industry. This article is an attempt to measure the extent of global competition in steel industry. Steel industry is a basic product for developing economic infrastructure for a nation. The time series analysis has been carried out to indicate the past trend and future direction for this analysis. The position of India has also been indicated along with those of a few leading nations. In that context, the emphasis is also given to the importance of labour cost, availability of raw materials, cost of energy consumed to gain competitive advantage. INTRODUCTION

Globalisation is the word that has came to dominate the world since the nineties of the last century. It has brought in new opportunities to developing countries through greater access to developed country markets and technology transfer, hold out promise improved productivity and higher living standard. But globalisation has also thrown up new challenges like growing inequality across and within nations, volatility in financial market and environmental deteriorations. Globalization and trade liberalization coupled with easy flow of information and advancement in communications technology have resulted in an unprecedented intensification of market competition worldwide. With this backdrop, Porter (1998) has commented that competitiveness has become a “central preoccupation of both developed and developing countries in an increasingly open and integrated world economy”. He stressed upon the nations, countries and firms to urgency of strengthening competence of handle the resultant threats. According to (Haider, 2007), meaning, implication, adaptation and achievement of competitiveness may vary from firm to firm, industry to industry and nation to nation across the world. According to Global Competitiveness Report 2010-2012, there are multiple challenges to the global economy and a continuing shift in the balance of economic activity away from advanced economies toward emerging markets. Policymakers are struggling to find ways to manage the present economic challenges and preparing their economies to perform well in an increasingly complex global landscape. Switzerland is the leading country and is followed by Singapore, Sweden, Finland, United States, Germany, Netherland, Denmark, Japan and United Kingdom. Japan remains the second-ranked Asian economy at 9th place, despite falling three places since last year. According to the Global Competitive Index (GCI), India’s rank falls from (48th - 56th) position from the year 2007-2008 to 2011-12. GCI is constructed based on 12 sub measures of competitiveness. It provides with a comprehensive portray of the competitiveness landscape for countries around the world at all stages of development. The sub measures are institution, infrastructure, macroeconomic stability, health and primary education, higher education and training, goods market efficiency, labour market efficiency, financial market sophistication, technological...
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