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.
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 139th 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 :-
Companies on basis of liability :-
Companies limited by shares
Companies limited by guarantee
Companies on basis of number of members :-
Companies on basis of domicile :-
Companies on basis of miscellaneous category :-
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.
The liability of the company is limited to the face value of the shares of the assets held by the company.
The Company should have the task completed for the purpose it was formed irrespective of any circumstances.
No individual can claim the company entity to be his own. The company work as an entity.
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.
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:
- On the basis of strength of labour:
Large scale industry
Medium scale industry
Small scale industry
- On the basis of raw material and finished goods:
- On the basis of ownership:
- On the basis of source of raw material:
Agro based industry
mineral based industry
Forest based industry
- Miscellaneous industries:
Consumer goods industry
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.
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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Public frequently asked questions (FAQs) :-
What Steel is made of?
Steel is an alloy of iron and carbon containing less than 2% carbon and 1% manganese and small amounts of silicon, phosphorus, sulphur and oxygen. Steel is the world’s most important engineering and construction material.
Who started the steel industry?
In the early 1870s, Carnegie co-founded his first steel company, near Pittsburgh.
What industry uses the most steel?
Construction industry is the largest consumer, accounting for approximately 50% of total world steel consumption. Transport sector (cars, trucks, aviation, shipbuilding, and rail) is the second. The machinery industry and metal products industry each consume around 14% of the world’s steel.
steel stronger than pure iron?
By weight, steel contains about 2.14% carbon. Although that’s a relatively small amount of carbon, it results in significant physical changes. Steel, for example, is both harder and stronger than pure iron. And unlike iron, steel isn’t an essential mineral.
Steel is stronger than iron, because an excess of carbon in iron and pig iron makes it weaker than steel. The quantity of carbon is very tightly controlled in steel. It is about 0.8 percent carbon, just the right amount to give it intramolecular strength.
Why is steel so heavy?
As mentioned, steel gets its weight from the high concentration of carbon. The more carbon an alloy contains, the heavier it will be. The primary benefit to the weight of steel is that it is incredibly durable. Its strength means that it is unlikely to bend, warp, or deform underweight, heat, or force.
Steel is man made?
Today, steel is one of the most common man made materials in the world, with more than 1.6 billion tons produced annually.
What is the hardest steel?
Chromium is the hardest metal known to man. While you may not have heard of chromium, more than likely you’ve heard of stainless steel. Chromium is the key ingredient in stainless steel, thus it is used in a variety of settings.
What are the different types and grades of steel?
Steel is graded as a way of classification and is often categorized into four groups—Carbon, Alloy, Stainless, and Tool.
What is the most common type of steel?
Low carbon steel (or “mild carbon steel” or “plain carbon steel”) refers to carbon steels that have up to 0.30% carbon content. This is, by far, the most common type of steel on the metals market.
What is steel formula?
Steel is an alloy. It mixture of iron and carbon fused together with one or more other metals or nonmetals. The chemical formula is Fe.
Which steel company is best?
Which is largest steel plant in India?
Bhilai Steel Plant
Who are the top producers of steel in the world?
ArcelorMittal , China Baowu Steel Group,Nippon Steel,
Who makes the best stainless steel in the world?
Acerinox is the world’s largest producer of stainless steel. It is formed by three fully integrated flat products production facilities (Acerinox Europa in Spain, North American Stainless in the USA and Columbus Stainless in South Africa)
Which is the newest steel plant in India?
Dolvi Steel Plant , A new steel plant is fast coming up at Dolvi in Ratnagiri district in Maharashtra.
Which company TMT bar is best in India?
Top best TMT bars brand in India are – 1) Tata tmt bar grade Fe500, 2) Tata tiscon SD TMT bar, 3) Jindal Panther TMT bar, 4) Sail TMT bar, 5) Kamdhenu TMT bar, 6) SAIL and ViZag CRM TMT bar, 7) Tata TMT bar, 8) SRMB steel tmt bar, 9) JSW steel tmt, 10) Shyam Steel tmt bar, 11) Madhuban any local suplier
Who makes the world’s maximum steel?
China produces the most steel in the world every year, producing more than half of the world’s steel.
Which city is famous for iron and steel?
Jamshedpur is famous for iron and steel industry. It is located in the State of Jharkhand in India .
Which is the first steel plant in India?
Rourkela Steel Plant (RSP), the first integrated steel plant in the public sector in India, was set up with German collaboration with an installed capacity of 1 million tonnes.
Steel stronger than stainless steel?
Strength of steel and stainless steel: Steel is slightly stronger than stainless steel as it has lower carbon content. Also, it is weaker than steel in terms of hardness.
Why is Chinese steel so cheap?
Companies in China are producing steel at a faster rate, flooding the market and dropping prices. It is produced at a rapid rate and it is not held up to the same quality standards as American steel.
Where is the largest steel mill in the world?
Today, the world’s largest steel mill is in Gwangyang, South Korea.
Which state is largest producer of steel in India?
Maharashtra and Tamil Nadu are largest steel using states, both auto hubs. Steel producing states in the east have not seen development of own steel markets.
What is full form of TMT steel?
Thermo mechanical treatment (TMT)
What do you mean by steel industry?
the business of processing iron ore into steel, which in its simplest form is an iron-carbon alloy, and in some cases, turning that metal into partially finished products or recycling scrap metal into steel. The steel industry grew out of the need for stronger and more easily produced metals.
What is the future of steel industry in India?
As per Indian Steel Association (ISA), steel demand will grow by 7.2% in 2019-20 and 2020-21. Huge scope for growth is offered by India’s comparatively low per capita steel consumption and the expected rise in consumption due to increased infrastructure construction and the thriving automobile and railways sectors.
Who invented TMT bars?
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