From heavy steel designing to steel fabrication for epc projects, the industry in India has proven to be at par, if not better than their American and European counterparts. More so, they provide this service at a much cheaper rate but still with the support of highly experienced and skilled workers, never allowing the quality of the products to degrade.
The discovery of steel has always been considered as one of the most important achievement in the history of mankind. It plays a critical role in the development of a nation. The establishment of a fully functional industry is one of the key factors in ensuring the economic and infrastructure stability of any developed or developing nation. The United States and many countries of Europe employ thousands of skilled workers who develop large quantities of high-grade steel and generate huge revenues in the process, amounting to billions of dollars. However, the majority of the companies, serving the demands of these countries, are turning out to be very costly to maintain, especially considering the present economic crunch. Also many of these steel fabricating and detailing firms have a very small scale of operations. All these factors have led to the outsourcing of the steel fabrication industry to countries such as India and China.
There are many plants of heavy steel fabrication in Bangalore and also a few plants of heavy steel fabrication in Goa, that perform the same job as their US or European counterparts, but at a much cheaper rate, a very large scale of operations and with no degradation of the quality of the final product.
Steel Fabrication Industry in India
According to specialists, these industries in the States and other European countries has almost reached its full maturity, with little or no scope of innovation or expansion. In such a scenario, these countries are turning towards developing countries such as India to help them meet their demands and also create additional avenues for the future. Once considered a blasphemy, outsourcing of these operations and designing is now considered to be a competitive edge for which all these companies in the developed nation are vying for.
In the heavy steel fabrication plants of Bangalore and other states of India, the cost of manufacturing and fabrication is very low but at the same time the skills of the laborers are exceptional. Attractive tax reforms and government aid have helped make this country the most preferred outsourcing location for steel fabrication. Thus, it is no surprise that many large companies in the US and Europe have set up their plants in this country. In addition to the construction of high-end steel, the companies of America and Europe are currently employing steel fabricators, sub-contractors and machinists from India to construct a large number of industrial projects. A plant for heavy steel fabrication in Goa is selected for a job in England while another has been employed to do fabrication jobs in the United States. This is the result of the globalization of the industry. Nowadays, the expertise of these plants in India has reached even higher and has gained much experience in large numbers of steel fabrication for epc projects. This outsourcing of the steel fabrication industry has created jobs for 45 million people and by 2025 this number is supposed to reach 90 million. This venture has proven to be so successful for both the parties that the government of India is currently working on a number of reforms which will establish a more cutting-edge steel industry in the country.
