Published:  12:22 AM, 14 May 2019

Present state of Indian steel industry

Present state of Indian steel industry

Indian steel industry has made a name of its own. It is since the beginning of our post independence phase that steel plants started flourishing in different parts of India which is dominant till date. At the present juncture there are in all 13 steel plants all over India in her different states.

It includes both public sector as well as private sector ones. The said industry is playing pivotal roles in shaping up the economic development of India. At the present juncture total production of steel and steel related products is estimated to be around 91 metric tons which is also slated to touch down 230 MT by 2030-2031. All the figures stated above are purely based on our assumption.

But, as per the macro economic development of India is concerned we find that role of steel and steel related products cannot be ignored by Indian economists as well as that of technocrats. Steel and steel products are widely used in various segments, such as in small and large scale industry, in medical science, manufactring sectors , automobile industry etc various other common sectors which is utilised for basic use of common people's need for our macro economic development.

Now all around India we find that there has been a boom in construction industry but protectionism by government of India badly retards the growth of the said industry. In this regard we must probe deeply why the term, 'Protectionism' arise and how to get rid from it. In order to delve more into the details we must at the inset find what actually the above stated term 'Protectionism' is referred to the common man's parlance.

Thus the term, ' Protectionism' is referred to as per views of common man's perception is the  process of shielding the country's indigenous industries from the onslaught of any overseas competitions thereby putting up individual government thumps on import duties. Common people might perceive that it is beneficial for country's economy but in real sense of the term it is inferred that the process might lead to deleteration of the said industry along with economy too.

Importance of steel is not so important in Indian economy but it is also equally important in regard to development of other industries like real estate, construction, housing and development industries too. Thus in the subsequent paragraph it is my diligent task to analyze deeply about how to protect Indian steel industry and to pave way for its progress.

Like other Indian industries we find that iron and steel industry needs to pave way for progress and development. Nobel vision of Pandit Jawahar Lal Nehru in setting up iron and steel industry had the objective to foresee technology and economic development prone India. However, there are ways and means available by which we are able to protect the above and hereby paving the way for its progress, of which some of the common ones are stated as follow:

*    Open economic policy should be initiated by the government of India.

*    Cheaper raw material should be available surplus.

*    Skilled manpower should be readily available for the development of the said industry.

*    Proper technology should be applied for the development of the said industry.

In India there are some common steel plants available all around the country, such as, Durgapur Steel Plant, Bhilai Steel Plant, Vishakapatnam Steel Plant, Bokaro Steel Plant, Tata Iron and Steel Company, Rourkela Steel Plant, Bhadravati Steel Plant.

Indian steel industry is on the verge of growth. Within the year 2020 we find that the production of Indian steel industry will rise to three fold hike. In this regard the key focusing should be made to minimise import of certain kinds which might retard the growth prospect. Emphasize should be given upon indigenous production of iron and steel industry in the days to arrive at.

Summing up the above views one point becomes lucid in our mind that the development of steel and iron industry should be given top priority so that it acts as a cakewalk for the development of allied industry in India.

The writer is a freelance contributor based in Kolkata

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