Iron and steel industry in India

rdf:langString Iron and steel industry in India

rdf:langString The iron and steel industry in India is among the most important industries within the country. India surpassed Japan as the second largest steel producer in January 2019. As per worldsteel, India's crude steel production in 2018 was at 106.5 tonnes (MT), 4.9% increase from 101.5 MT in 2017, means that India overtook Japan as the world's second largest steel production country. Japan produced 104.3 MT in year 2018, decrease of 0.3% compared to year 2017. Industry produced 82.68 million tons of total finished steel and 9.7 million tons of raw iron. Most of the iron and steel in India is produced from iron ore. Policy for the sector is governed by the Indian Ministry of Steel, which concerns itself with coordinating and planning the growth and development of the iron and steel industry, both in the public and private sectors; formulation of policies concerning production, pricing, distribution, import and export of iron and steel, ferro alloys and refractories; and the development of input industries relating to iron ore, manganese ore, chrome ore and refractories, etc., required mainly by the steel industry. Most of the public sector undertakings market their steel through the Steel Authority of India (SAIL).The Indian steel industry was de-licensed and de-controlled in 1991 and 1992 respectively.