India has become the second largest steel producer in the world overtaking Japan riding on the back of strong demand and driven by domestic availability of raw materials such as iron ore and cost-effective labour.
With the recent budget providing major thrust on the infrastructure spending, ‘Housing for All’ and infrastructure upgradation in the water sector, the sector is going to witness renewed growth opportunities.
CII over the years has been working closely with various stakeholder towards achieving the competitiveness of the sector. The CII National Committee on Steel has been specifically working on issues like demand creation, enhancing raw material security, availability of adequate liquidity and logistical challenges facing the steel industry.
This edition of the Policy Watch ‘Rekindling Steel Sector Growth’ looks at some of the critical issues and policy interventions relevant for the growth and competitiveness of the Indian steel industry.