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TITLE OF THE PROJECT: A PROJECT REPORT ON STEEL INDUSTRY OF TATA IRON AND STEEL COMPANY
NAME AND DESIGNATION OF THE ORGANIZATION GUIDE: VINAYAK PHANSE, AUDIT MANAGER, TATA PROJECTS
NAME AND DESIGNATION OF THE ACADEMIC GUIDE: VINAYAK PHANSE, AUDIT MANAGER, TATA PROJECTS
1. INTRODUCTION:
The Indian steel industry is more than 100 years old now. The first steel ingot was rolled on16th February 1912 - a momentous day in the history of industrial India. Steel is crucial tothe development of any modern economy and is considered to be the backbone of the humancivilization. The level of per capita consumption of steel is treated as one of the importantindicators of socio-economic development and living standard of the people in any country.
It is a product of a large and technologically complex industry having strong forward and backward linkages in terms of material flow and income generation. All major industrial economies are characterized by the existence of a strong steel industry and the growth ofmany of these economies has been largely shaped by the strength of their steel industries intheir initial stages of development
India is the 7th largest steel producer in the world, employing over 1/2 million people directlywith a cumulative capital investment of around Rs.1 lakh crore. It is a core sector essentialfor economic and social development of the country and crucial for its defence. The Indianiron and steel industry contributes about Rs.8,000 crore to the national exchequer in the formof excise and custom duties, apart from earning foreign exchange of approximately Rs.3,000 crore through exports. Consumption of finished steel grew by 5.9 % and increased to24.9 million tones. steel consumption is likely to increase at a rapid pace in future due tolarge investments planned in