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
Rupee has weakened
The rupee has weakened significantly over the past year, falling from 84.7 to 89.7 against the US dollar. Its depreciation has been even sharper against the euro (9.4 per cent) and the British pound (14.3 per cent). It has also lost value against the Japanese yen and the Chinese yuan. In nominal terms, therefore, the rupee has depreciated against all major global currencies.
1 mins
December 1 - 31, 2025
BUSINESS ECONOMICS
Foundations of Indian Yoga Philosophy
Yoga, in very simple terms, means union.
4 mins
December 1 - 31, 2025
BUSINESS ECONOMICS
The New Indian Professional: Work, Wealth & Wellness in 2026 Changing aspirations, consumption patterns, and lifestyle expectations
As 2025 draws to a close, a new archetype is emerging across India's corporate and entrepreneurial landscape.
4 mins
December 1 - 31, 2025
BUSINESS ECONOMICS
Where Rhythm Meets Divinity: A Three-Day Odyssey of Indian Classical Art
An Artistic Journey Through Dance, Melody & Tradition (27-29 November 2025)
3 mins
December 1 - 31, 2025
BUSINESS ECONOMICS
Bharat Electronics Ltd
BEL is a public sector undertaking (PSU) under the Indian government's Ministry of Defence.
2 mins
December 1 - 31, 2025
BUSINESS ECONOMICS
A New Crisis: Impact of US Tariff hikes on UP's Industries
Long-established industrial centres such as Kanpur, Moradabad, Bhadohi and Firozabad are currently facing severe disruptions due to the imposition of steep US tariffs.
2 mins
December 1 - 31, 2025
BUSINESS ECONOMICS
Nobel Prize in Physiology or Medicine 2025 Significance of the Laureates' Work in the Medical World
Mary E. Brunkow, Fred Ramsdell, and Shimon Sakaguchi have been awarded the 2025 Nobel Prize in Physiology or Medicine for their pioneering discoveries on peripheral immune tolerance—the mechanisms that prevent the immune system from attacking the body’s own tissues.
2 mins
December 1 - 31, 2025
BUSINESS ECONOMICS
The RBI's Balancing Act: Strategy and Execution in 2025
In 2025, the Reserve Bank of India (RBI) has adopted a cautious yet steady monetary policy, distinguishing itself from the more aggressive actions of several global central banks.
3 mins
December 1 - 31, 2025
BUSINESS ECONOMICS
From stagnation to surge: 10 reasons the Indian market rallied hard
The Indian stock market spent most of 2025 moving sideways in a narrow and frustrating band.
5 mins
December 1 - 31, 2025
BUSINESS ECONOMICS
Uttar Pradesh witnesses renovations of pilgrimage sites propelling multi-dimensional growth
Last month, Prime Minister Narendra Modi ceremonially hoisted the saffron flag, the Dharma Dhwaj, atop the Ram Temple in Ayodhya, marking the completion of the temple's construction.
3 mins
December 1 - 31, 2025
Translate
Change font size