Indian Steel Industry Case Study

1219 Words5 Pages
1. Government admits Indian steel industry under "stress"
NEW DELHI: Government has admitted today that steel industry, one of the fastest growing industries in India, is passing through "stress" for some time and assured the Rajya Sabha that all necessary steps will be taken to promote and safeguard the sector.
"The concern of the member has been noted. Government has noted that the increasing imports from China, Japan and Korea is proving to be a trouble for the domestic industry and also causing losses to it.”
"Government is making efforts to check this by steps such as imposing safeguard duty, anti-dumping duty on imported steel products and policy announcement on minimum import price (MIP) for the same. After such steps, the pressure on
…show more content…
Steel industry to see better days, worst behind us: Tata Steel
KOLKATA: The steel business is prone to see great days ahead as the "most noticeably bad is behind us", Tata Steel India Managing Director T V Narendran said today.
"The most exceedingly bad is behind us," Narendran said on the sidelines of CII's yearly local meeting here.

Alluding to steel costs, Narendran said he didn't wish to anticipate their reach for the following couple of months, yet said household steel cost was still lower than least import value (MIP) forced by the administration in February.
In the later past, household cost was up by Rs 3,000 and global steel costs had likewise climbed by 15 for every penny, he said.
Rustic center in Budget and the Seventh Pay Commission proposals will fuel local interest, he said.
Narendran said residential steel producers were taking after the advancements in China.
Talking about Tata Steel Kalinganagar, he said the organization was at present focusing on balancing out the primary period of three million tons limit. Contingent upon money streams and current interest, plan for extra three million tons second eliminate would be conveyed.
Considering the primary period of Kalinganagar undertaking, the aggregate level limit would get sloped up to 10 million
Open Document