Question

how did the iron and the steel industry grow in India ​

Answer 1

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Answer 2

Some of the major investments in the Indian steel industry are as follows:

• In a move towards becoming self-reliant, Indian steel companies have started boosting steel production capacity. To this end, SAIL announced doubling of its at 5 of its steel plants capacity in September 2020
• In March 2020, Arcelor Mittal Nippon Steel India (AM/NS) acquired Bhander Power plant in Hazira, Gujarat from Edelweiss Asset Reconstruction Company.
• In February 2020, GFG Alliance acquired Adhunik Metaliks and its arm Zion Steel for Rs 425 crore (US$ 60.81 million), marking its entry into the Indian steel market.
• For FY20, JSW Steel set a target of supplying around 1.5 lakh tonnes of TMT Rebars to metro rail projects across the country.
• In December 2019, Arcelor Mittal completed the acquisition of Essar Steel at Rs 42,000 crore (US$ 6.01 billion) and formed a joint venture with Nippon Steel Corporation.
• JSW Steel has planned a US$ 4.14 billion capital expenditure programme to increase its overall steel output capacity from 18 million tonnes to 23 million tonnes by 2020.
• Ministry of Steel plans to invest US$ 70 million in the eastern region of the country through accelerated development of the sector.

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