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Growth In Steel Industry Augurs Well For Ancillaries
BUSINESS ECONOMICS
|February 1-15, 2019
The Indian government has defined an ancillary industry as, “An unit, having capital investment not exceeding 1 crore, which produce parts, components, sub-assemblies and tooling for supply against known or anticipated demand of one or more large units manufacturing and assembling complete products and which is not a subsidiary to or controlled by any large unit in regard to the negotiation of contracts for supply of its goods to any large unit.
This shall not, however, preclude an ancillary unit from entering into an agreement with a large unit giving it the first option to take the former’s output.” The major iron and steel plants of India include Tata Iron and Steel Company (TISCO), Indian Iron and Steel Company (IISCO), The Visweswaraya Iron and Steel Ltd., Bhillai Iron and Steel Centre, Plant of Hindusthan Steel Ltd. at Rourkella and The Hindusthan Steel Ltd. at Durgapur, Bokaro Steel Ltd., Tata Steel Kalinagar, Posco Steel at Paradwip, and others. These plants need high grade haematite iron, coal, manganese, dolomite, limestone and fire clay for production and are highly dependent and related to a wide array of ancillary industries.
Ancillary industries of iron and steel
The iron and steel industry is one of the most important industries in India. India was the third largest producer of raw steel in the world, from 2014 to 2017. The industry produced 91.46 million tonnes of total finished steel and 9.7 million tonnes of raw iron. Most iron and steel in India is produced from iron ore. The Ministry of Steel is concerned with the coordination and planning of the growth and development of the iron and steel industry in the country. This includes formulation of policies with respect to production, pricing, distribution, import and export of iron and steel, ferro alloys and refractories and also the development of the input industries relating to iron ore, manganese ore, chrome ore, and refractories and others.
Location of ancillary industries for the steel plants in India
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