Importance Of iron And Stelel industries In Sears 5Points Plz. Fast
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Iron and Steel industry forms the backbone of the economy. Iron and steel helps to manufacture machines that support other producing units.The level of per capita consumption of steel is treated as one of the important indicators of socio-economic development and living standard of the people in any country.
There are many reasons why the iron and steel industry is important, but we could sum them all up in one statement: “steel provides cheap strength”! Now, think about all the applications requiring cheap strength, and you’ll have a list as long as your arm.
The iron and steel industry is one of the most important industries in India. During 2014 through 2016, India was the third largest producer of raw steel[1] and the largest producer of sponge iron in the world. The industry produced 91.46 million tons of total finished steel and 9.7 million tons of raw iron.
Most iron and steel in India is produced from iron ore.[2] The Indian Ministry of Steel is concerned with: the coordination and planning of the growth and development of the iron and steel industry in the country, both in the public and private sectors; formulation of policies with respect to production, pricing, distribution, import and export of iron and steel, ferro alloys and refractories; and the development of input industries relating to iron ore, manganese ore, chrome ore and refractories etc., required mainly by the steel industry.
The steel industry’s significance for our prosperity and welfare cannot be emphasized enough. The steel industry’s products also play a crucial role in the development of the sustainable society (one that ensures the health and vitality of human life and nature). Competitive steel companies generate employment, export earnings, tax revenues and innovations.
There are many reasons why the iron and steel industry is important, but we could sum them all up in one statement: “steel provides cheap strength”! Now, think about all the applications requiring cheap strength, and you’ll have a list as long as your arm.
The iron and steel industry is one of the most important industries in India. During 2014 through 2016, India was the third largest producer of raw steel[1] and the largest producer of sponge iron in the world. The industry produced 91.46 million tons of total finished steel and 9.7 million tons of raw iron.
Most iron and steel in India is produced from iron ore.[2] The Indian Ministry of Steel is concerned with: the coordination and planning of the growth and development of the iron and steel industry in the country, both in the public and private sectors; formulation of policies with respect to production, pricing, distribution, import and export of iron and steel, ferro alloys and refractories; and the development of input industries relating to iron ore, manganese ore, chrome ore and refractories etc., required mainly by the steel industry.
The steel industry’s significance for our prosperity and welfare cannot be emphasized enough. The steel industry’s products also play a crucial role in the development of the sustainable society (one that ensures the health and vitality of human life and nature). Competitive steel companies generate employment, export earnings, tax revenues and innovations.
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