Iron and S

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teelIRON AND STEEL INDUSTRY IN INDIA Corporate Catalyst India A report on Indian Iron and Steel Industry OVERVIEW 1.1 Background The Indian iron and steel industry is nearly a century old, with Tata Iron & Steel Co (Tata Steel) as the first integrated steel plant to be set up in 1907. It was the first core sector to be completely freed from the licensing regime (in 1990-91) and the pricing and distribution controls. The steel industry is expanding worldwide. For a number of years it has been benefiting from the exceptionally buoyant Asian economies (mainly India and China). The economic modernization processes in these countries are driving the sharp rise in demand for steel. The New Industrial policy adopted by the Government…show more content…
This is a growth of 4-5 per cent over the two-year period. However, according to IISI, the cost of raw materials and energy was to continue to represent a major challenge for the world's steel industry. Higher production of value-added products, capacity expansion, upgradation of production process achieveing cost effective production in an environment friendly manner, have been the major thrust areas of the Indian Iron and steel producers in the recent times. After liberalization, there have been no shortages of iron and steel materials in the country. 1.4.1 Production of Carbon Steel The total production of finished carbon steel in the country has been 42.636 million tonnes in 2005-06 as compared to 29.77 million tonnes in 2000-01, indicating an average increase of 57 per cent. The high share of the secondary sector in finished steel production is largely due to substantial supplies of semis, the basic feed material from the main producers for conversion to needed shapes by rolling. Corporate Catalyst India A report on Indian Iron and Steel Industry Production Trend Pig Iron & Carbon Steel 50 In million tonnes 40 30 20 10 0 2002-03 2003-04 Pig Iron 5.3 3.8 3.3 33.7 37 40.1 42.6 18 3.9 1.7 2004-05 2005-06 2006-07* Finished Carbon Steel Source: Joint Plant
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