India Iron and Steel Industry:–

“Industries and development go hand in hand”. India is a country in South Asia which is the seventh largest country by area. India has a population of about 1.3 billion people and is second largest population among whole world.

India has a varied culture and is very prominent in every aspect. India has shown a great progress in the recent years in every filed. Industrial development boots other sectors of the economy. It is also very closely related to trade. Transportation in India has led to an upshot in the industrial development. For any industry enlargement it is very important to have a tremendous transport network. In today’s world you cannot move an inch without using steel. Thankfully to steel industry that has been developing at a very tremendous rate.

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What is a company?

Company refers to collaboration of people that carry out commercial and industrial enterprise. Company members are the people that unite together to achieve their goals and work in a productive way. Growth life India is the industries and their spread with evolution. The growth story of Indian economy has been marvellous just because of industrial expansion.

India GDP has seen a devastating change over the years. The Indian economy expanded by 7.7 percent in the first three years of 2018. Maharashtra has the highest GDP rate in 2019 following by Tamil Nadu and Uttar Pradesh. Transportation of goods from one location to another is also very prominent for industrial development. So industries are generally set up in areas where transportation network is prime.

The Indian economy is the fastest blooming and mixed economy. By nominal GDP it is the seventh largest economy and in purchasing power parity (PPP) it is the third largest in the whole world. India ranks at 139^th position in Gross Domestic Product (GDP).India facts about having retail as the top industry. The agriculture and mining are also considered to be prime industries. The IT industry still continues to be largest private sector employer in India. The India states having Maximum number of industries are Maharashtra followed by Punjab, Tamil Nadu and West Bengal and many more.

Knowing about various types of companies:-

In India there are 5 different types of company which are:-

Companies on basis of incorporation :-
Chartered Companies
Statutory Companies
Registered Companies

Companies on basis of liability :-
Companies limited by shares
Companies limited by guarantee
Unlimited Companies

Companies on basis of number of members :-
Private Companies
Public Companies

Companies on basis of domicile :-
Foreign Companies
Indian Companies

Companies on basis of miscellaneous category :-
Government Companies
Holding and subsidiary Companies
One man Companies

Characteristics of a company include many factors which are responsible for the production and headway of company.

Separate legal entity:-

A company should be made as a separate entity. It should have its own name and its assets and liabilities should be different from people of the company.

Limited Liability:–

The liability of the company is limited to the face value of the shares of the assets held by the company.

Perpetual Succession:–

The Company should have the task completed for the purpose it was formed irrespective of any circumstances.

Separate property:–

No individual can claim the company entity to be his own. The company work as an entity.

Common seal:–

It is the official signature of the company which acts as a way of recognising the product of that company.

Capacity to sue and to be sued:–

A company can sue and can be sued in the name of the company as an entity.

Separate Management:–

Board of Directors are the head of any company that manages managerial matters. They are the share holders of the company.

One share one vote:–

Irrespective of the number of shares in a company. The principle of voting in a company is “One share, One vote”.

All together, Steel industry in India is growing at a very fast progressive rate. Transportation of steel is also very important factor that led to development of the steel industry. Transportation of raw materials of steel and then sending the produced goods to the desired place is a big challenge for steel industry.

Steel being an alloy of iron and carbon has high tensile strength. This is the reason for its being the major component used in buildings, infrastructure, tools, ships, automobiles, machines, etc. Steel transportation is very essential because as heavy loads are to be transported from one place to another. The transportation of heavy goods are to be done with a lot of care and precaution so as to ensure their quality should not be degraded.

A Company synonym is reffered as a firm, business, corporation, house, establishment, organization, venture, agency, institution, etc. Among the Top companies in India are Rashtriya Ispat Nigam Limited (RINL), VISA Steel, Essar Steel, TATA Steel, JSW Steel, Bhushan Steel, MESCO Steel, FACOR Steel and many more.

The largest steel company in the world by market cap is Baoshan Iron and Steel, which was founded in 2000 in Shanghai, China. It is commonly known as Baosteel. It is famous for producing iron and steel manufacturing, sales of iron and steel products and other specialised business affairs. As being a big company all the affairs are maintained by its subsidiaries.

In India top 10 companies Iron Steel production are:–

TATA Steel :-

It is among the top 100 oldest steel company in India. It is a private steel plant and has a global name in market. It was founded by Dorabji Tata in 1907. It has its headquarters in Mumbai. It has an annual turnover of about $20 billion and produces one of the finest qualities of steel. It has the capacity to produce steel of more than 30 million metric tons in a year.

Rashtriya Ispat Nigam Limited (RINL) :-

It is also known as Vizag Steel. It is a Government of India undertaking company. It was founded by Government Steel Authority of India Limited (SAIL). It is ranked as one of the most highly rated steel suppliers in India with a very high annual turnover of about $2 billion.

Steel Authority of India :-

It is one of the largest steel producing companies in India. It has its headquarters in New Delhi. It has 5 integrated steel plants located at Bhilai, Durgapur, Burnpur, Rourkela and Salem. SAIL also has 3 special steel plants at Salem, Durgapur and Bhandravati. It was founded in 1954 by Resources and Information. It is well known in market for producing top quality of steel.

Bhushan Steel :-

It is one of the finest producer of auto grade steel manufacturer in India. Their steel manufacturing industries are in three states which are Maharashtra, Uttar Pradesh and Odisha. It is headquartered in Delhi. It is a combination of advance technology which includes modern machineries, latest technology and skilled workforce. This steel plant is famous for invention and betterment of steel produced.

Essar Steel India limited :-

The Essar Steel plant is located in the South district of Gujarat and has its steel mill in Hazira. It has its headquarters in Mumbai and is famous in producing its fine quality of steel to international locations as well as stock for stores in India. The work included in Essar industry is ore beneficiation, pellet making, iron making, steel making and it also has other facilities like galvanising, cold rolling, etc.

Shri Rathi Steel Dakshin Limited :-

It is located in Bhiwadi, Rajasthan. It is responsible for producing world class high quality constructions steel and other types of steel. It has certificate from CENTRE DE REHERCHES METALLURGIQUES, BELGIUM, for producing excellent quality of steel. It has a very high annual turnover providing a huge contribution in the GDP of the country.

The Visweswaraya Iron and Steel Limited :-

It is located in Bhadravati in Shimog district in Karnataka. Earlier it was named as Mysore Iron and Steel Limited by now it has been changed. It holds a capacity of 1.38 billion tons of steel. It has a huge contribution in the Indian GDP and produces optimal quality of steel.

Bhilai Steel Plant :-

The Bhilai Steel plant is located in Bhilai district of Chhattisgarh, India. It is the India’s first and main producer of steel rails and steel plates and other steel products. The plant is also famous in metallurgical process and producing prime quality of steel.

Jindal Steel and Power :-

It is one of the major steel steel producing private company. It is famous for a large number of products like Jindal Panther TMT Bars. The has been successful in spreading its wings abroad. It has a very large contribution in the GDP of India.

JSW Steel Industry :-

It has a JSW group which is one of the India’s largest conglomerates. Earlier it was named as Jindal South West later in order to give it a brand name it changed to JSW. The JSW group has its footprints in various fields – Steel, Energy, Minerals, Port and infrastructure and cement. It has its business over multiple locations in India. This JSW Industry has a key role in increasing GDP of country.

Kalyani Steels Limited :-

Kalyani Steels was established in 1973as a part of Kalyani Group..With four decades of experience in Alloy Steels, we have acquired for ourselves, the status of preferred supplierfor leading national and international OEMs in the space of Automotive, Engineering, Energy, Aluminium Smelting, Defence and so on.Kalyani Group, established in mid 1960s, now stands strong and diversified across Speciality Steels, Automotive & Engineering Forgings, Urban Infrastructure, Renewable Energy and Speciality Chemicals, with end-to-end capabilities and manufacturing footprint across India, Germany, Sweden and China

India’s no.1 Steel Industry(TISCO):

In India the biggest steel industry is the TATA Steel Limited formerly called Tata Iron and Steel Company Limited (TISCO). It is a multinational steel-making company which is headquartered in Mumbai, Maharashtra, India. It is a private industry which was founded by Jamshedji Tata. It offers services worldwide. The industry has a very well developed network of transportation. ODC Cargo (Over Dimensional Cargo) transportation is done in a large number so as to increase the import export and expand the business. Tata Steel has its company’s globally over 26 countries including Australia, China, India, Netherlands, Singapore, Thailand and other countries. Its largest plant is located in Jamshedpur, Jharkhand.  Tata Steel is famous for producing iron, soft iron, cast iron and alloy. They also specialize in producing locomotive parts, agricultural equipment, machinery, tinplate, cable and wire, rebars, they also includes branded products and solutions like ( Parvesh ) Entry Doors, Nest in buildings structures and many more. Tata Steel is the leading producer of steel all over world and has led to a great rise in the GDP rate of India.

India’s second largest steel industry (RINL):

Rashtriya Ispat Nigam Limited (RINL) also known as Vizag Steel. Is the leading steel producing company which is located in Visakhapatnam city, Andhra Pradesh, India. It is a government owned Steel plant which has a very high profit annually and a great contributor in country’s GDP.  The RINL has a steady patronage, not only in India but in internationally also. India is among the leading producers of steel worldwide. The products manufactured by the company are wire rods, TMT re—bars, rounds, squares, flats, angles and channels. RINL has 7.3 million tonne per annum capacity steel plant in Visakhapatnam. The company has provided a lot of employment opportunity and created a scope of development for the country. Trailer truck transportation in steel industry plays a very important role. The RINL Company has a very optimal network of transportation worldwide.

Know about Steel industries:

Industry refers to the production of goods or related services for the economy. The source of revenue of the company or business is the indicator if it’s relevant industry. If there are a large number of revenue sources then it is considered to be working in different industries. The major type of industry includes:

Primary Industries: These are the type of industries that extract their raw materials from nature.

Secondary Industries: These industries include manufacturing of raw materials into furnished goods.

Tertiary Industries: They provide services to other industries. They do not manufacture or produce.

Quaternary Industries: These involve high tech industries which include very high qualified people. Research and development can be included in this industry.

Industries are the steps to development. Transportation plays a vital role in steel industry because a large amount of goods are to be transported from one place to another. Superior connectivity leads to easy transportation of goods and smooth working of steel industry.  The industries can be classified as:

1. On the basis of strength of labour:

Large scale industry

Medium scale industry

Small scale industry

1. On the basis of raw material and finished goods:

Heavy industry
Large industry

1. On the basis of ownership:

Private Sector
Public Sector
Joint Sector
Co-operative Sector

1. On the basis of source of raw material:

Agro based industry
mineral based industry
Pastoral-based industry
Forest based industry

1. Miscellaneous industries:

Village industry
Cottage industry
Consumer goods industry
Ancillary industry
Basic industries
Capital intensive industries
Labour intensive industries

What makes industries so important?

Industrial development has played a major role in the economy development of the country. Importance of industries includes a large number of aspects which increase in employment opportunities, increase in GDP, raise in standard of living, increase in government revenue, increase in social welfare, rate of investment is also increased to a large extent and many other benefits of industries are there.

Industrial development has led to development in other sectors as well. It has led to development in agriculture sector; it promotes specialization and also balance of payment. In short industrial development led to expansion in market. Import export of goods should be also very convenient for any industry to be a developed one. Competent connectivity should be there to transport easily goods and other services.

Government and Steel industries:

As seeing the huge amount of production in the steel industry. The government of India has taken many initiatives for robust development in Steel industry. The National Steel Policy 2017 and Domestically Manufactured Iron and Steel Products Policy 2017, has led to growth in production and consumption of steel. This led to increase in the per capita income of the country. The Government of India emphasis and commitment to building infrastructure Make in India and Smart City Mission has led to great consumption of Steel. Ministry of Steel is taking a lot of care in the production of steel and promoting use of steel. It promotes rural and urban development provides collaboration with railways, road transport, etc. Hence, development of any country is very important which is inter -related to the industries of that area. A good transportation network is just a gold platter in that.

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Conclusion:-

Steel industry has shown “progress towards success”.

Steel industry has reached to great heights over the past few years and has a great percent of share in the GDP (Gross Domestic Product) of the country. Expansion of steel industry has led to a great evolution in every other sector as well. Generation by generation industrial development has increased because of increasing use of industrial material. Eventually, liberalisation has brought a great effect in the industrial development which ultimately led to economic development of the country. Hence, Steel industry is considered to be an indispensable part of blossoming India.

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