What factors affect the steel production in India and why China has largest steel production
Answers
Factors that might drive the fluctuating Indian steel market
Factors such as overcapacity, low prices and economic slowdown are adversely affecting it. India urban population is expected to touch 600 million by 2030 from the current (2013) 400 million. A prosperous India will need new infrastructure.
The steel industry was small and sparsely populated at the start of the twentieth century and during both world wars. Most of the steel infrastructure was destroyed during the wars, and were using Soviet technologies. China lagged behind the western countries in its steel industry development even though they were using central planning techniques during the early days of communist rule.
China underwent rapid economic industrialisation since Deng Xiaoping's capitalist reforms which took place four decades ago in 1978.
The steel industry gradually increased its output. China's annual crude steel output was 100 million tons in 1996.
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Comparison between India steel production and China's steel production
- China is the world's leading steel production country whereas India comes at the number fourth in 2014 but as exporter India stands at the 13th rank.Due to the availability of coal in abundance and highly mechanised infrastructure China is producing more steel where as India is lagging behind in both aspects.
- China produced 71 million tonnes of steel in the year 1991 which grew to 127 million tonnes by 2000.But at the same time the Growth In India's steel production was from 17 million tonnes to 26 million tonnes.
- In China steel production after 2000 growing to around 630 million tonnes in 2010.India also registered significant growth but still China's steel production is 12.3 times that of India.
There is a need to allocate resources for research and development to produce more steel computatitively.
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