An analysis of exim steel trade in India

Abstract

Steel is an essential component of every country's economy and is regarded as one of the modernization's driving forces. Steel consumption per capita is regarded as one of the most important markers of a country's socioeconomic progress and living standards. Steel remains the most environmentally benign and recyclable of engineering materials. India's founders recognized power and steel as the cornerstone for the country's future growth after independence. Steel was used to build the majority of India's contemporary infrastructure, confirming the industry's pivotal role in the country's development. India has surpassed Japan as the world's second-largest steel producer, and it is on track to become the world's second-largest steel consumer.