indian steel industries performance and prospects
India’s economic growth is contingent upon the progress of the Indian steel industry. While steel continues to have a stronghold in traditional sectors such as construction, housing and transportation etc., it is also increasingly used in engineering industries like power generation, petrochemicals and fertilizers. India occupies a central position on the global steel map, with the establishment of new state-of-the-art steel mills, acquisition of global scale capacities by players, continuous modernization and up gradation of older plants, improving energy efficiency and backward integration into global raw material sources. National Steel Policy announced on 3rd November, 2005 aims at building a modern and efficient domestic steel industry of global standards with a capacity to cater to diversified product demand. To realize this goal in a largely market driven environment, the industry will have to ensure efficiency and productivity of each and every component of operations including management. Through an in-depth analysis on Indian steel industry and its trends and sustainability, gaining familiarity to achieve a new insights into its growth and performance can be comprehended.