Growth pattern of Iron and Steel Industry in India’s Economic Development

Abstract

The current annual production of finished steel is just over 4 million tonnes in India. The growth pattern of Indian iron and steel industry from current production figures to a production capacity of over 20 million tonnes of crude steel at the end of the Fourth Five Year Plan, has been outlined stage by stage and rationally analyzed. The individual expansion pattern of different Steel Plant currently operating in India has also been outlined in relation to estimated requirements of finished steel by 1970-71.Likewise, the growth pattern of foundry pig iron from the current production of just over a million tonnes a year to over 4 million tonnes annual capacity to be established by the end of the Fourth Five Year Plan, has been outlined whilst highlighting current shortfalls of foundry pig iron in the country. The establishment and projected growth of alloy, tool special and stainless steels industry in India have likewise been analysed in relation to its growth pattern to be followed till the end of the Forth Five Year Plan. The estimated short-term and long-range requirements of the diverse ranges of ferro-alloys to cater to the needs of the alloy, tool , special and stainless steel industry have been outlined in relation to Third and Fourth Five Year Plans including the financial implications of the ferro-alloys’ requirements. The role of India raw-materials such as iron ore and flux, their inherent shortcomings and optimum remedial, beneficiation treatments required have been discussed in relation to their indispensability in satisfying the growth pattern of Indian Iron and Steel Industry. The role of small foundry iron production plants has been specifically high-lighted in relation to integrated iron and steel complexes in the background of Indian conditions and projected developments. It has been shown that even though the iron and steel industry is highly capital intensive, it cannot be left to the vagaries of international trade both in times of peace and that of war to satisfy the almost unlimited applications of iron and steel product-mix in light, medium and heavy engineering and consumer industries. The paper outlines the current planning of Indian iron and steel industry and its steady growth during the successive Five Year Plans to assist the country to attain the economic” take –off” stage. Of necessity, such an upward the growth of the basic heavy steel industry entails its inevitable toil and sweat, success and pitfalls and yet the ultimate objective of attaining Indian self-sufficiency in iron and steel industry is undisputed, provided however, metallurgical problems of the raw-materials, installation and maintenance of iron and steel plants at their peak operational efficiency are squarely faced and effectively overcome and not lost sight of in the maze of endless discussions and explanations.