Challenges before Indian Steel Industry

There are certain challenges before the steel industry of India in the recent times. India has been one of the major producers of steel in the world and has also been attracting a lot of foreign direct investment.

[br]A few issues would need to be attended to if India wants to be counted as one of the major and most economical producers of steel. The three areas that need to be improved upon in the view of the exports are the infrastructure, ability to draw the top names in steel, and wealth creation issues.

The condition of the infrastructural facilities of the steel industry in India is not at all conducive to a sustainable growth and development of the steel industry of the India.

The methods that are adopted for the creation of wealth in the Indian steel industry are also supposed to act as hindrances to the growth and development of the Indian steel industry. The Indian steel industry has also not been able to draw the best professionals in the steel industry and that has been a major drawback of the industry.

[br]The experts are also of the opinion that not enough policies or measures have been adopted to amend the situation in case of the infrastructural facilities available in the steel sector. Even though India is capable of producing steel at a good rate and also increase the volume of production there is not enough land available to support such activities. One of the major reasons for such problems is the consistently increasing population of India.

The design institutions in India have not been successful at recruiting the best of engineers and metallurgists in India. This has affected the technological aspect of the Indian steel industry.

The experts are of the opinion that this issue has to be countered in order to reduce the dependence on the overseas technological assistance. The steps taken by Tata Steel are instructive in such a context. The company has been increasing public awareness about the steel industry through books and educational sessions at the Indian Institute of Technology at Kharagpur.