Indian Steel Industry

Topics: Steel, Pig iron, Steelmaking Pages: 4 (1226 words) Published: December 12, 2012
Press clippings
Indian steel industry plays a significant role in the country’s economic growth. The major contribution directs the attention that steel is having a stronghold in the traditional sectors, such as infrastructure & constructions, automobile, transportation, industrial applications etc. Moreover, steel variant stainless steel is finding innovative applications due to its corrosion resistive property. India is the fifth largest steel producer at the global front and struggling to become the second largest producer in the coming years. The country has acquired a central position on the global steel map with its giant steel mills, acquisition of global scale capacities by players, continuous modernization & up gradation of old plants, improving energy efficiency, and backward integration into global raw material sources. Global steel giants from across the world have shown interest in the industry due to its phenomenal performance. For instance - the crude steel production in India registered a year-on-year growth of 6.4% in 2010 and reached 66.8 Million Metric Tons. Our new research report “Indian Steel Industry Outlook to 2012” says that the, Indian crude steel production will grow at a CAGR of around 10% during 2010-2013. Moreover, with the government proactive incentive plans to boost economic growth by injecting funds in various industries, such as construction, infrastructure, automobile, and power will drive the steel industry in future. The report also reveals that, steel consumption in India is expected to grow significantly in coming years as per capita finished steel consumption is far less than its regional counterparts. “Indian Steel Industry Outlook to 2012” is an outcome of an extensive research and conceptual analysis of the Indian steel industry. The report provides detail information on steel industry in India. The report also presents an insight into the future outlook of various vertical industry segments, including automotive,...
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