Steel and Cement are two great traditional indicators of state of the economy. Automobile is now a global benchmark and of course its status also sums up the state of the steel industry. India is the fourth largest producer of steel with a market value of US$ 57.8 bn in 2011, expected to reach US$ 95.3 bn by 2016. Indian Steel industry has posted a CAGR growth of 10.7% over the last 10 years. It is a core industry for, as well as primary and secondary employment generation.
Prospects – all in the future (tense):
Investments and developments in the recent past:
The industry therefore faces external as well as internal threats. The manufacturing cost in India remains high and with coal getting auctioned, it will only go up further. China and Russian producers will keep flooding the market directly or indirectly with a helping hand from Indian importers keen to make a quick buck even if the methods are unethical.
wordpress theme by initheme.com