The booming industry of steel in India

The growth of metal industry
The scope for the steel industry is huge in the country, and the current scenario indicates that the industry will continue the growth even in the coming years with demand from the construction sector and the domestic applications as well. Today, the government is focusing on enhancing the metal industry and its capacity with the development of infrastructure and modernization of the current plants and the technology. The country has huge deposits of natural resources, and they are found in the form of manganese, chromite, copper, iron ore, bauxite and even gold. The metal industry is quite large and is also seen in various applications and fields of life. There are two flourishing industries here like the iron based and the non-iron based metal industries. Due to the metal industries, the mining industry in India is also flourishing like never before. Urbanization has actually brought about the big change in helping the metal industry. The metal industry today is growing with the modern techniques and using the international standards of manufacturing which is why the exports are increasing, and the Indian revenue is also expecting a rise.

The current scenario
There are several big names that are related to the industry, and many foreign investors are also in it and ready to invest as well. The government is working on plans to make investments for the foreign investors easy and on a large scale and 100 % FDI. Besides this, the industry also provides employments to millions of people that are directly and indirectly related to the metal industry. The exports in this field are very attractive with figures that are increasing and promising. The metal and mining sector has recorded a 19.8 per cent expansion in 2011 that touched $ 141.9 billion and by 2015 it is expected to reach $ 305.5 billion.

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