Question

Production and Consumption of steel is regarded as the index of a

country's development. Explain, ‘India is an important iron and steel

producing country in the world, yet we are not able to perform to our full

potential’. Give three reasons.
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Answer 1

Answer:

Production and consumption of steel is regarded as the index of a country's development because of the following reasons: The production and consumption of iron and steel reflects the level of industrialisation and economic development of a country. All the other industries depend on it for their machinery.

Answer 2

Answer:

(i) Steel production is the backbone of any country’s economy since it is the basic unit for the development of the nation.

(ii) Almost every industry depends on iron and steel for its manufacturing and production.

(iii) In today’s era of globalisation, consumption of goods is increasing. Thus, it can be concluded that growth in production of steel is regarded as the index of country’s development.