Simultaneously, the US announced a number of stimulus measures of investment in infrastructure where the existing Make in USA policy and costly steel imports benefited the indigenous steel manufacturers to derive maximum bene
The recent global economic outlook report by IMF and the annual outlook report by ADB are both cases in point. One distinctive feature of India’s growth is its ability to grow amid an all round global declining trend with s
The crude steel production at 107 MT rose by 3.3%. Total steel imports at 8.8 MT went up by 5% and steel exports at 8.5 MT dropped down by 26%, resulting in India becoming a net importer in FY19.
The recent repo rate cut by the Reserve Bank of India to 6.0% has been favourably commented by ADB and is likely to enable more investment flow into the economy and would also help private consumption.
The apparent consumption of finished steel at 97.5 MT, registering an annual growth of 7.5%, the highest among the global players, has made India nearly touching the level of the US and in all likelihood India would occupy th
The ability of Indian steel producers to cover the major components of their cost of operations in the next year would primarily depend on the price of raw materials as cost of raw materials comprises 60% of the total cost of
Growth in industrial production boosts steel consumption as some of the critical segments of industry are steel intensive. Hence, the fall in the index causes concern for steel industry.
The global steel market is passing through a critical phase with uncertain elements cropping up infrequently to disrupt the slow and steady journey of revival.
On a similar note, India is trying hard to develop indigenous capacity (Make in India) for machineries and equipment required for, say, new steel capacity augmentation. Otherwise, the large scale of imports of capital goods i
Small and marginal farmers owning small tracts of land would be largely benefited. Social security and health coverage for a large chunk of workers in the unorganised sector through innovative schemes announced in the Budge
While the major players are operating at a level of 81% of capacity, the SME sector is restrained by a much lower utilisation of installed capacity (68%), primarily due to raw material shortages in iron ore and non-coking coa
The latest core inflation reflected in consumer price index (CPI) indicates that price level had increased by 2.19% during December 2018 and the headline inflation represented by wholesale price index (WPI) had gone up by 3.8
The current market realisation in Indian domestic market offers a still higher return as compared to the ruling global steel prices and therefore the urge to exports is not there.
A lot of speculations are rife on the probable state of the sector in 2019. Now that Brent crude oil price has declined, it is not likely to go up in the coming 2-3 months, despite the alleged production cuts by Opec.
At the end of 12 months of 2018, Indian manufacturing industry can look back at the sector’s performance with a great deal of satisfaction and an anticipated brighter future.
The Index of Industrial Production (IIP) growth of 8.1% in October is encouraging. There has been a stable upward trend in the industrial output for the past few months.
During the first 8 months of the current year, the total imports of finished steel by India have gone down by only 2.3% compared to the previous year, while exports have fallen by around 35%.
The enhanced steel supply was facilitated by fresh capacity augmentation (mostly brownfield), higher capacity utilisation and increased output of value-added steel as demanded by the critical sectors.
In The first half of the current financial year, the industrial production in the country has grown 5.1%. This rate could have been higher but for the poor growth in Mining (0.2% in September) and Intermediate Goods (1.4% in
