Impact of Policy Measures and Trends in Indian Iron and Steel Industry

Dr. A. Kalaiselvi; L. A. Razia Fathima

Volume : V, Issue : XI, November - 2016

Impact of Policy Measures and Trends in Indian Iron and Steel Industry

Dr. A. Kalaiselvi, L. A. Razia Fathima

Abstract :

Steel is vital to the development of any economy and it is the backbone of the human civilization. The existence of strong steel industry is the characteristics of all major industrial economics. The strength of steel industry in their initial stages will definitely initiates the growth of many modern economies. The rapid pace of growth of the industry and the observed market trends called for certain guidelines and framework. Thus was born the concept of the National Steel Policy, with the aim to provide a roadmap of growth and development for the Indian steel industry. India is one of the few countries where the steel industry is poised for rapid growth. While plant closures and privatization are rare in India, the private sector is considered to be the engine of growth in the steel industry and technological changes and modernization are taking place in both the public and the private sector integrated steel plants in India. The Indian steel sector was the first core sector to be completely freed from the licensing regime, pricing and distribution control. This was done primarily because of the inherent strengths and capabilities demonstrated by the Indian iron and steel industry. Therefore, a there is need to assess the trends in the growth in the industry in view of changing environment. It is in this aspect, the present study proposes to analyze the performance of the Indian iron and steel industry through production, consumption, exports, and imports