India is the second largest producer in global crude steel production after China and the UE.
Trade remedial measures have contributed towards enhancing domestic production. These measures have encouraged “Make in India” steel production, increasing production capacity by 25.6% from 2014-15 with 75% capacity utilisation during 2017-18.
According to Joint Plant Committee (JPC) data, India reached 106 MT production during 2018, a 5% increase year-on-year. This strong performance has been driven by private steel companies. Unlike the globally adopted trend, India is making most of its steel (57%) through the electric route, the rest being via the usual oxygen one. This trend id mindful of reducing carbon footprint.
Besides its durability, steel also offers saving over the life cycle of products, particularly in terms of energy and iron ore required to produce them. Moreover, with 100% recyclability, steel scraps as an input is environment-friendly.
India overtook Japan in January- December 2018 to become the world’s third-largest crude steel producer.
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