Question

Why steel industry is considered to be in formal sector?

Answer 1

HEY MATE HERE'S YOUR ANSWER;

Steel and iron are known as the backbone of contemporary industry because:

1. nearly everything is created of steel or iron or has been created with tools and machinery off these metal.
2. Ships, trains, trucks and autos are created mostly of steel or iron. Even the protection pin are made of steel or iron.
3. Minerals are well-mined with steel or iron equipment.
4. giant buildings have steel or iron framework.
5. Oil wells are trained with steel or iron machinery.

Answer 2

The growth in the Indian steel sectorhas 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 very modern with state-of-the-art steel mills

hope this helps..!