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India will not increase steel production to the target level

19 October 2015

In 2012, representatives of the steel industry in India have set a new goal. Development began in 2025 was expected to reach 300 million. Tons. Now, however, the National Council of Applied Economic Research say insolubility of the problem. Anyway, by the due date.

Metallurgical sector brings to the country of more than 2% of GDP. Now India is the third position among the leading producers of steel in the world. In 2014, production reached 91,460,000. Tons. Growth was started generation with only 4.3%. The peak in the Indian metals industry was observed in 2003−2007. Over the past 3 years, the sector is losing ground. Before the crisis, they say, on the doorstep. Statistics show decrease in profit for the 2011−2014 financial year by 46%. The greatest damage falls on the companies of small and medium level. Debts in the metallurgical industry in the country is increasing. Accordingly, a decline in jobs. As for new projects, they launch an exception that proves the rule. A striking example of the plant EFE Steel in Odishi.

Problems arise in almost all directions. This exploration of new fields, and low availability of skilled workers. This is also the high cost of logistics facilities in low quality. Noticeable and little progress during the pursuit of environmental standards. As noted in the NCAER, the Indian steel sector requires setting more realistic goals.

However, there are positive aspects. In the 2015−2016 fiscal year Ipolovine leading company JSW Steel has improved performance. Development began in April-September increased by 6% compared to the same period last year. Production volumes reached 6.65 million. tons. At the same time there was a decrease in IIkvartale indicators. In July-September idle blast furnace at Vijayanagar in production. Representatives of the company believe that the work stopped until December next year. In IVkvartale production is expected to decline compared to last year. The main reason — the production stop in Salem. It is being investigated with respect to the blast furnace gas leakage. There were no deaths, but the enterprise was stopped. From the workers suffered poisoning maintenance department. After two weeks of downtime unit resumed production processes.

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