India is a country where there is no dearth of raw material like iron ore which is required in the production of steel. Along with it, there is easy availability of cost-effective labor. These are the major factors that have led to the growth of the steel industry in India. The Indian steel sector is up-to-date with modern state-of-the-art steel mills and is a major contributor to the GDP of the manufacturing sector.
Overview Of the Indian Steel Industry
In the gone-by year 2019, India was the second-largest producer of steel in the world behind China. The iron and steel industry is among the most prominent industry in India. The iron and steel produced in India is mainly from iron ore.
The iron and steel industry sector whose policies are governed by the Indian Ministry of Steel was de-licensed in 1991 and de-controlled in 1992. The Ministry of Steel coordinates and plans the growth and development of the sector – both in public and private sectors. Policies related to production and pricing, distribution, and import and export are also formulated by the Ministry of Steel. It should also be noted that steel is marketed mainly by the Steel Authority of India (SAIL) for most public sector undertakings.
Top Steel Manufacturers In India
The seven Central Public Sector Enterprises (CPSEs) that come under the administrative control of the Ministry of Steel contributed 20% of the crude steel production in 2018-19. The private steel sector is not behind either and plays an important role in the growth of the Indian steel industry. Listed below are a few of the top steel manufacturers in India. To discuss and list out an entire list of steel companies in India or a database of the steel industry in India can make us run out of pages but possible only through a steel industry database! We will come to that in the later section.
Tata Steel Ltd
Established in 1907 as Asia’s first integrated private steel company, Tata Steel is Europe’s second-largest producer of steel. Owned by the Tata Group, the company has manufacturing units in Jamshedpur, Jharkhand, and Kalinganagar in Odisha.
JSW Steel Ltd
JSW Steel is the second-largest steel-producing company in India. It is the flagship company of the JSW Group. Ranked seventh amongst the top thirty-four world-class steel manufacturers by World Steel Dynamics, JSW Steel is the lead manufacturer of value-added and high-grade steel products in India. It has plants in Karnataka, Tamil Nadu, and Maharashtra.
Steel Authority of India Ltd
Steel Authority of India Limited (SAIL) is one of the seven maharatna companies coming under India’s public sector enterprises. SAIL is the third-largest steel company in terms of revenue generation. SAIL has five integrated three special steel plants that are located in the eastern and central parts of India.
Indian Steel Industry – Outlook And Challenges
In a low growth era, India has been one of the few bright spots for the world’s steel industry. As per Worldsteel in conjunction with the Indian Steel Association, the construction sector in India will be the key driver of steel demand. The infrastructure development and ‘housing for all’ thrust, not forgetting the ‘Make in India’ initiative by the government of India can give further fillip to the demand. These factors augur well for improved macroeconomic fundamentals. Sustained growth in steel demand can be seen soon. The Indian steel industry outlook is positive.
Though the Indian government is going ahead with extensive reforms to strengthen the country’s infrastructure to enhance productivity, it needs to be seen how effectively it gets implemented. Apart from this, international trends like the US-China trade war or the economic slowdown induced by the pandemic could well act as a deterrent and prove to be a challenge for the steel industry as a whole.
Leverage The Indian Steel Industry Database
Are you an enterprise looking to improve your B2B sales to the steel industry? Are you a manpower consultancy exploring to place your candidates in steel companies? Are you a B2B business looking to buy steel or steel products for your business directly from a steel company?
If your answer to any of the above questions is YES, you are certainly missing out on something. It is next to impossible for all the steel companies under the steel industry to be covered in this article, and neither can you get all the contact details in steel companies online. So what do you do? Well, it’s time for you to get in touch with a data provider for all your solutions.
Importance of a Database
In today’s digital world, ‘data’ is the term that’s doing most of the rounds, and is discussed as being the new oil! Wondered why? Similar to oil being used to run vehicles, or convert into gas, plastic, or chemicals; data can be broken down and analyzed by businesses to generate profits. And that’s where the importance of database lies!
Who are Database Providers?
Data providers are usually research institutes or consultancy companies that share or sell their data to various companies for their business needs. A data provider could either be efficient in handling a particular niche area like FMCG, Manufacturing, Banking, etc. or all of it.
Why Take the Help of Data Providers?
Data providers have mastered the art of making sense from the huge volumes of data that enable businesses innovative insights into their consumers. Mapping millions of companies with an industry or technology or sector along with maintaining verified contact lists is possible with only data providers.
Example, if you want to know the mobile number and email id of the CEO of Reliance Industries, giving the search ‘mobile number, ceo, reliance industries’ in Google will yield you the below result from b2b Data Provider company which is one of the database providers:
You may click on your above-searched link to see all the details! However, if you want a list of all steel company CEOs, checking it individually is a tedious and time-consuming exercise. A database that consists of all the verified steel manufactures can help you. That is the reason why you should rely on data provided by the data providers, this is especially true if you are in the B2B business.
Opportunity Knocking On The Door For B2B Businesses
In comparison to any other country in the world, the cost of steel production in India is higher. And, this is mainly due to the lackluster infrastructure, higher taxes, or expensive cost of capital.
Those B2B businesses in areas of infrastructure, or finance consultancy, or capital goods can certainly step in to take advantage of the issue faced by the Indian steel industry by offering suitable, effective, and economic solutions to the steel companies. The B2B businesses can maximize their marketing efforts by making use of the B2B database of Indian steel companies provided by well-known data providers.