Steel and Iron Ore Scenario - An Indian Perspective

India is on fast economic growth. Even in the turbulent years of global crisis, it could achieve a growth of over eight per cent. In recent past, Indian Government has been contemplating a faster growth in all the sectors of economy so as to make the nation an economic power in the world.Steel is a versatile material. It has its role in most of the major industrial activities, such as infrastructure, automobiles, urbanisation, consumer durables and other. In other words, steel is a part and parcel of industrial expansion, urban and rural development. It is rightly admitted that steel acts as pillar of any development model. Volume of steel consumption is the barometer which measures economic progress and/or industrial status of any country.India and China are the two countries in Asia which have the significant impact on the global steel industry. Of course, China is much ahead of India in consumption level of steel.