Learn about the growth of the basic metal industry in India

Metals are directly related to industrialisation and no economy can exist without them. Most important in this sector are iron and steel and they meet the demands of housing and mobility.
The metals & mining industry caters to this ever-rising demand through extraction (mining) and primary and secondary processing of these metals.
Refining ferrous, smelting ferrous and non-ferrous metals, even from scrap with metallurgic technique, are the activities involved in the metal industry.
The metal industry today is a very significant one. This is due to the modernisation of the industry and the entry of various global players in it.
India is rich in natural resources. This is the main reason for the success of the basic metals industry in the country. Metals like iron ore, bauxite, copper, gold, and chromite are the basic metals. They are in high demand all over the world for their applications and high value.
The liberalisation of the economy in 1990 saw great changes in the basic metal industry in India. This paved the way for investments which came pouring in rapidly. This led to developments and growth in the industry. There was seen a drastic increase in the production leading to a huge rise in exports, thereby, generating hefty revenue. This sector has numerous big and international names involved along with the domestic giants.
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