India on its way to become the second largest steel producer

Discussion in 'Economy & Infrastructure' started by LETHALFORCE, Jan 6, 2015.

  1. LETHALFORCE

    LETHALFORCE Moderator Moderator

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    KOLKATA: India is expected to become the world's second largest producer of crude steel in 2015-16, moving up from the fourth position, as its capacity is projected to increase from 100 million tonne (MT) to about 112.5 MT in 2015-16. "All indicators suggest that India will soon move up to the second position both in production and consumption," a sectoral analysis by Frost & Sullivan's Metals & Mining Practice said.

    With infrastructure development and automotive industry d ..

    Read more at:
    India on its way to be the second largest producer of steel in 2015-16: Study - The Economic Times
     
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  3. salute

    salute Senior Member Senior Member

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    wow:thumb:
     
  4. Hari Sud

    Hari Sud Senior Member Senior Member

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    That is not a great feather in India's cap but good.

    What India has to produce that specialised steel, for which we constantly beg from western countries and Russia for supply. Now you know why Scorpene submarine project suffered three years delay. The base specialised steel in quantities needed were not being supplied from the international market. A great mistake was made when the same steel was not contracted from France when the contract was signed. We preferred the tendering process, which took a year and supplies did not arrive two years after the purchase order given.
     
  5. ezsasa

    ezsasa Senior Member Senior Member

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    Even if we become the second largest steel producer, we will have to wait and see how much of it will come for internal consumption. With China sending out feelers that it will be investing 1 trillion USD more into infrastructure again, to compensate the reduced GDP growth rate due to policy shift recently. Hope we don't have another mining scam like last time.
     
  6. amoy

    amoy Senior Member Senior Member

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    Well, is it really good news?

    China sees record steel output, price at 11-year low|Industries|chinadaily.com.cn
    Boosting infra investment at home and abroad is the countermeasure to the oversupply. Export of equipment and steel often goes along with undertaking foreign infra projects.
     
  7. asianobserve

    asianobserve Elite Member Elite Member

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    Two words: OVER CAPACITY. The law on diminishing return (with strong emphasis on diminishing) is the law at force now in the steel business.
     
  8. Redhawk

    Redhawk Regular Member

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    I am surprised. I thought India was already the highest, or one of the highest, producers of specialised sorts of steel in the world. I thought India was exporting specialised steel of different sorts all over the industrialised world.
     
  9. Hari Sud

    Hari Sud Senior Member Senior Member

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    Partially true. All that steel needed for submarines, warships and artillery gun, nuclear usage had to be sourced outside. That is one reason for delay. Overconfidence to Manufacture by local sources is high. Only when delivery is made, then it s found that quality is poor or not what is required. Then tendering process for outside supply begins, adding more delays and corruption.
     
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  10. DingDong

    DingDong Senior Member Senior Member

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    India lags behind the west in metallurgy and manufacturing technology. This gap is too big at the moment. For example, we cannot still produce turbine blades for our homemade jet engine so as to make it run at max capacity.

    This lag is primarily because we entered this race very late.
     

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