Iron and Steel Industry
1. INTRODUCTION
1.1 Field Of Research
The field of research is to study the factors which affect the profitability of IRON AND STEEL industry, which is the most crucial element for the growth of any developed or developing economy. It acts as backbone of human civilisation. It is a product of a large and technologically complex industry having strong forward and backward linkages in terms of material flows and income generation. With regards to Indian Economy it is one of the most energy intensive sectors. Increase in productivity can be achieved through cleaner technologies and manufacturing process which will help in merging Economic, Social and Environmental Objectives. Many companies in the past many years have undergone mergers and acquisitions with bigger industrial giants either to clear off their debts or due to inability to perform in the existing market scenario. The research reveals the major reasons behind the failure of big iron and steel giants in the past and helps us to have a better understanding about the reasons behind their downfall.
1.2 PURPOSE & Scope
The purpose of the research is how to increase the profits of the Iron and Steel Industry so that it can compete with the global market and existing market scenario. The Indian scenario has changed a lot in past decade or so. The main purpose of the research is also to identify the problems and ways to overcome those problems. By analyzing historical data of India’s productivity, import-export and growth rate in this sector will help us identify the past performance, will show the existing scenario and will give us potential future development strategies and scope of further development.
2. Literature Review
2.1 BACKGROUND
The establishment of Tata Iron and Steel Company (TISCO) in 1907 was the starting point of Modern Indian steel industry. Afterwards a few more steel companies were established namely Mysore Iron and Steel Company, (later renamed Vivesvaraya Iron &
1.1 Field Of Research
The field of research is to study the factors which affect the profitability of IRON AND STEEL industry, which is the most crucial element for the growth of any developed or developing economy. It acts as backbone of human civilisation. It is a product of a large and technologically complex industry having strong forward and backward linkages in terms of material flows and income generation. With regards to Indian Economy it is one of the most energy intensive sectors. Increase in productivity can be achieved through cleaner technologies and manufacturing process which will help in merging Economic, Social and Environmental Objectives. Many companies in the past many years have undergone mergers and acquisitions with bigger industrial giants either to clear off their debts or due to inability to perform in the existing market scenario. The research reveals the major reasons behind the failure of big iron and steel giants in the past and helps us to have a better understanding about the reasons behind their downfall.
1.2 PURPOSE & Scope
The purpose of the research is how to increase the profits of the Iron and Steel Industry so that it can compete with the global market and existing market scenario. The Indian scenario has changed a lot in past decade or so. The main purpose of the research is also to identify the problems and ways to overcome those problems. By analyzing historical data of India’s productivity, import-export and growth rate in this sector will help us identify the past performance, will show the existing scenario and will give us potential future development strategies and scope of further development.
2. Literature Review
2.1 BACKGROUND
The establishment of Tata Iron and Steel Company (TISCO) in 1907 was the starting point of Modern Indian steel industry. Afterwards a few more steel companies were established namely Mysore Iron and Steel Company, (later renamed Vivesvaraya Iron &
Bibliography: 15 | http://finance.indiamart.com/markets/commodity/steel.html | 16 | INDIAN STEEL OUTLOOK IISI -OECD CONFERENCE Date: 16th May, 2006. | [ 8 ]. INDIAN STEEL OUTLOOK IISI-OECD CONFERENCE (Date: 16th May, 2006) [ 9 ] [ 10 ]. INDIAN STEEL OUTLOOK IISI -OECD CONFERENCE Date: 16th May, 2006.