Trend of Steel Demand in India

Abstract

HOW much steel do we need ? What is the trend of the demand? We have no ready answers. To answer these questions satisfactorily, one should have accurate and reliable data on the physical resources and the pace of economic development of the country. Steelis one of the indis-pensable bases of economic growth and it has been rightly considered the barometer of economic activity. In the last twenty years, between l938 and I957, the industrial production of the free world increased by 130% and its output of crude steel by 157%. The steel industry in most of the countries of the world has been characterised by two important features : (1) the disproportionately high investment required, and (2) the cyclic character of its growth.