What do you mean by “agglomeration economies”? How is it be fitted for the Iron - and Steel industries of india ? ( according to 5 marks question)
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Agglomeration economies are the benefits that come when firms and people locate near one another together in cities and industrial clusters.
The growth in the Indian steel sector has been driven by domestic availability of raw materials such as iron ore and cost-effective labour. Consequently, the steel sector has been a major contributor to India's manufacturing output. The Indian steel industry is modern with state-of-the-art steel mills.
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