Steel Industry in India Essay

512 Words3 Pages
The growth of the steel industry from the times of the British rule has gone through a significant change with regards to quality, development and marketing strategy. It all started with the industrial revolution in the 1800s and has since then given rise to a new breed of steel developers. A lot of factors proved to be the driving force for such a transformation and competition with the neighboring countries made it as a successful event. Industrial dynamics vary in length and breadth for the development of steel and are focused on the overall profit of the steel industry. In recent years, a lot of multi scale projects have taken up the Indian industry by a storm and these levels have given a larger scope for steel companies. There is always a need for galvanized sheets, rollers, and other varieties of pressed sheets that make up the steel industry. The construction process needless to say remains the same but has new implementations that are adapted from the western counterparts. Steel manufacturers are now in demand for infrastructure and automobile sectors as well, thus widening their scope of development. The recent growth of these newly developed industries has given a new lease of hope to steel developers. This sudden splurge of industrial growth has honed the success of the leading steel companies in India. The market value of steel would always be high even during a global crisisas it is a major component for any mechanical based industry. Even in agro based industries, steel finds its use in many ways. The marketing campaign of steel developers has reached new standards with the advent of global commercialization and this has perked up their market value as well. Small scale developers to large scale companies have seen the growth of steel thus ensuring profits even with a lower margin. The Indian economy has always been favorable for the growth of steel
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