* India’s finished steel consumption is anticipated to increase to 230 MT by 2030-31 from 86.3 MT in FY22 (till January).
* As of October 2021, India was the world’s second-largest producer of crude steel, with an output of 9.8 MT.
* The industry is witnessing consolidation of players, which has led to investment by entities from other sectors. The ongoing consolidation also presents an opportunity to global players to enter the Indian market.
* In October 2021, the government announced guidelines for the approved specialty steel production-linked incentive (PLI) scheme.
* Under the Union Budget 2022-23, the government allocated Rs. 47 crore (US$ 6.2 million) to the Ministry of Steel.
* As of September 2021, India was the world’s second-largest producer of crude steel, with an output of 9.5 MT.
* Easy availability of low-cost manpower and presence of abundant iron ore reserves make India competitive in the global set up.
* India is home to fifth-highest reserves of iron ore in the world.
Climate change and global warming are the biggest threats of the present time and how the world manages to control pollution will define our future. R...
Infrastructure is crucial to the development of any economy. Roads, railways, airways, and waterways enable connectivity with the outside world, facil...
India has a huge potential for digital payments. As of October 2021, the country had around 1.18 billion mobile connections, 700 million Internet user...
Introduction India has one of the oldest healthcare systems in the world, ...
Introduction Advanced technology is gaining prominence across the globe, e...