India has become the 4th largest producer of crude steel in the world as against the 8th position in 2003 and is expected to become the 2nd largest producer of crude steel in the world by 2015.
India continues to maintain its lead position as the world’s largest producer of Direct Reduced Iron (DRI) or Sponge Iron.
301 MoUs have been signed with various States for planed capacity of around 486.66 million tonnes.
The steel sector contributes to nearly 2% of the GDP and employs over 500,00 people.
The per capita steel consumption has risen from 38 kg in 2005-06 to 59 kg in 2011-12.
Source:
http://www.steelguru.com/indian_news/Year_End_Review_2012_Developments_in_Indian_steel_sector/296925.html
