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01-03-2010, 07:11 PM #1
India emerges as the fourth largest steel producer in World
India emerged as the fourth largest steel producer in the world and is expected to become the 2nd largest producer of crude steel in the world by 2015, provided all requirements for creation of fresh capacity are adequately met.
India also maintained its lead position as the world's largest producer of direct reduced iron (DRI) or sponge iron. Sponge iron production for sale was 20.8 million tonnes (MT) in 2008-09 which was higher by 2.1 per cent over 2007-08.
The country is likely to achieve a crude steel production capacity of 124 MT by the year 2012.
In the past year, 222 Memorandum of Understanding (MoUs) have been signed by the investors with various State Governments for setting up additional 276 MT of steel capacity in the country.
Major investment plans are in the States of Orissa, Jharkhand, Karnataka, Chhattisgarh and West Bengal.
The National Steel Policy 2005 had projected an annual steel consumption growth of seven per cent based on a GDP growth rate of 7-7.5 per cent and production of 110 MT of crude steel by 2019- 20.
Going by the existing growth trends, these estimates are likely to be exceeded and it is envisaged that in the next five years, demand will grow at higher annual average rate of over 10 per cent as compared to around 7 per cent growth achieved between 1991-92 and 2005-06.
The production for sale of total finished steel (alloy and non-alloy) was at 38.961 MT during April-November, 2009 as against 38.024 MT in corresponding period of 2007-08, a growth of 2.5 per cent.
Exports of total finished steel (alloy and non-alloy) was at 1.81 MT during April- November 2009 as against 2.952 MT in corresponding period of 2007-08, a decline of 39 per cent.
Imports of total finished steel (alloy and non-alloy) was at 4.59 MT during April-November, 2009 as against 4.134 MT in corresponding period of 2007-08, a growth of 11 per cent.
The consumption of total finished steel (alloy and non-alloy) was at 34.304 MT during April- November, 2009 as against 33.995 MT in corresponding period of 2007-08, a growth of 6.8 per cent.
Steel investments in the country has been constituted under the Chairmanship of Secretary (Steel) for conducting coordination meetings with the steel investors, concerned Central Ministries/Departments and the State Governments. A meeting of Inter Ministerial Group (IMG) was held on August 25, 2009. It was attended by all major PSUs and private steel investors and Ministries/Departments such as Railways, Shipping, Road Transport and Highways, Environment and Forest and Mines.
Survey to measure domestic steel consumption shows that the present per capita consumption in the country is only around 47 kg (2008).
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