Gå ubegrenset med Magzter GOLD
Få ubegrenset tilgang til over 9000 magasiner, aviser og premiumhistorier for bare
Prøve GULL - Gratis
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
Denne historien er fra February 1-15, 2019-utgaven av BUSINESS ECONOMICS.
Abonner på Magzter GOLD for å få tilgang til tusenvis av kuraterte premiumhistorier og over 9000 magasiner og aviser.
Allerede abonnent? Logg på
FLERE HISTORIER FRA BUSINESS ECONOMICS
BUSINESS ECONOMICS
Bela: The voice that empowered women, now immortalised on screen
There are voices that linger long after the sound fades— voices that shape lives, nurture dreams, and become part of a people's collective memory.
3 mins
September 01 - 30, 2025
BUSINESS ECONOMICS
India at crossroads: new strategies needed to overcome the American rebuff
The inevitable happened. Against all hopes that Narendra Modi's bear hugs will improve India’ India's relations with the US President Donald Trump, comes the final axe of a 50% tariff on all Indian goods exported to the US.
2 mins
September 01 - 30, 2025
BUSINESS ECONOMICS
Bharat and Vasudhaiva Kutumbakam
These days, we are constantly witnessing discourses on globalization, global changes and effects thereof upon individuals, societies and nations.
6 mins
September 01 - 30, 2025
BUSINESS ECONOMICS
India needs more private investment to achieve 8% growth
The signs of economic deceleration have become evident, with trade disruptions, subdued consumer demand, and lacklustre private corporate investment now impacting industrial performance, and which is visible in corporate results/outcomes.
2 mins
September 01 - 30, 2025
BUSINESS ECONOMICS
Why Music Education is essential for every child's growth
Take a few moments to read this — it may inspire a beautiful beginning for a child’s future.
3 mins
September 01 - 30, 2025
BUSINESS ECONOMICS
Indian Economy's Growth and the Burden of Overregulation
The Indian economy continues to demonstrate impressive growth, but its complex and often archaic regulatory framework is taking a significant toll.
1 mins
September 01 - 30, 2025
BUSINESS ECONOMICS
From vulnerability to strength: India's post-tariff economic blueprint
INTRODUCTION Escalating trade tensions between India and the United States, driven by a sharp rise in U.S. tariffs, are posing significant challenges to the Indian economy.
3 mins
September 01 - 30, 2025
BUSINESS ECONOMICS
Indian Post: A New Role?
The history of the Post Office is deeply intertwined with human civilization.
2 mins
September 01 - 30, 2025
BUSINESS ECONOMICS
Savings Account Slowdown: A Challenge for Banks
The Average Monthly Balance (AMB) is the minimum amount a customer must maintain in a savings account.
3 mins
September 01 - 30, 2025
BUSINESS ECONOMICS
Inflation falling: Good news, but economic challenges remain
India’s year-on-year (YoY) headline inflation rate, based on the All India CPI, stood at 1.55% in July 2025, according to a PIB press release on 12 August 2025. This marks the lowest YoY inflation rate since June 2017.
2 mins
September 01 - 30, 2025
Translate
Change font size