How is a steel building a strong India?
There has been a positive trajectory in the utilisation of steel since it was introduced to the world of construction. It not only supports practical and functional constructions but also adds aesthetic value to the structures. Stainless steel has been a major player in India’s infrastructural development because of its various features. Steel undoubtedly offers unparalleled benefits in almost every aspect of our lives as it is used in everything around us like roads, bridges, ships, airplanes, and more. This makes steel an exclusively favourite material in the world of engineering.
The production and consumption of steel are directly linked to the socioeconomic development of the country as it is used in major engineering and construction projects. Steel consumption of a country depends on the performance of the economy, mainly on the investments that are made in infrastructure projects. India ranks second in the world when it comes to steel production and consumption after the USA. We have surpassed countries like Japan and USA by producing a historic level of 120 million tonnes per year and 118.2 tonnes of consumption in the year 2021.
From the above paragraphs we understand that the steel industry is a major stakeholder in the development of India. Let’s see how it is strengthening India’s infrastructure development by contributing to the important sectors.
The construction sector alone accounts for 35-40% of the country’s steel demand. Where 70-75% of it is used in the commercial and industrial segments. Steel as an alloy is strong yet light in weight which allows designs to be created causing undue pressure on the foundation or the structure.
This lightweight alloy can withstand natural disasters, harsh weather conditions, and even corrosion. Even in case of an earthquake, the structure may bend but it won’t crack or even collapse. Reports also suggest that domestic steel consumption has also increased by 7 percent owing thereby strengthening the infrastructure of our country.
Steel is one of the most important raw materials in the manufacturing sector. As it can be used in different ways as per the requirements of the final product. The automobile industry is the biggest consumer of steel in the world. One car uses around 700 kgs of steel, on average a car has up to 65% of the steel in it. Due to its strength, flexibility, and safety, steel provides great value in the automotive industry.
As an increasingly competitive industry, having the best source for metal fabrication is critical for any agricultural OEM. With alloys like steel, manufacturers create more reliable and efficient machines that translate into better quality machines for farming practices. Steel offers unmatched protection against the elements and cuts substantial maintenance time and cost in agriculture and allied industries. Low-carbon steel has a carbon content of up to 0.25% and is extensively used in the construction of farm machinery.
The steel industry has emerged as a major industry as it caters to the major sectors in India. Currently, the steel industry contributes around 2% to India’s GDP and is expected to grow in the coming years owing to the development of the country. Knowing the importance of the steel sector, the government undertakes several initiatives for the development of the domestic steel industry as it will ultimately strengthen the infrastructure of a progressive India.