The Indian government has defined an ancillary industry as, “An unit, having capital investment not exceeding 1 crore, which produce parts, components, sub-assemblies and tooling for supply against known or anticipated demand of one or more large units manufacturing and assembling complete products and which is not a subsidiary to or controlled by any large unit in regard to the negotiation of contracts for supply of its goods to any large unit.
This shall not, however, preclude an ancillary unit from entering into an agreement with a large unit giving it the first option to take the former’s output.” The major iron and steel plants of India include Tata Iron and Steel Company (TISCO), Indian Iron and Steel Company (IISCO), The Visweswaraya Iron and Steel Ltd., Bhillai Iron and Steel Centre, Plant of Hindusthan Steel Ltd. at Rourkella and The Hindusthan Steel Ltd. at Durgapur, Bokaro Steel Ltd., Tata Steel Kalinagar, Posco Steel at Paradwip, and others. These plants need high grade haematite iron, coal, manganese, dolomite, limestone and fire clay for production and are highly dependent and related to a wide array of ancillary industries.
Ancillary industries of iron and steel
The iron and steel industry is one of the most important industries in India. India was the third largest producer of raw steel in the world, from 2014 to 2017. The industry produced 91.46 million tonnes of total finished steel and 9.7 million tonnes of raw iron. Most iron and steel in India is produced from iron ore. The Ministry of Steel is concerned with the coordination and planning of the growth and development of the iron and steel industry in the country. This includes formulation of policies with respect to production, pricing, distribution, import and export of iron and steel, ferro alloys and refractories and also the development of the input industries relating to iron ore, manganese ore, chrome ore, and refractories and others.
Location of ancillary industries for the steel plants in India
This story is from the {{IssueName}} edition of {{MagazineName}}.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber ? Sign In
This story is from the {{IssueName}} edition of {{MagazineName}}.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber? Sign In
Deposit shortage: challenges facing India's banking ecosystem
In any macroeconomic framework, the household sector plays a critical role as a driver consumption, savings, and overall economic activity.
India's future dreams in Semiconductors & AI
A midst the gloom of the RG Kar affair or the Tirupati laddu scam or even the continued terrorist attacks in Jammu & Kashmir, even after the completion of the first general election in the state, we find hope and encouragement when the founder of Nvidia, Jensen Huang, in his recent visit to India says \"India will be a gigantic opportunity for us\".
The Ramayana: Justice and Modern Man
Consisting of Twenty-Four Thousand worthy Sanskrit verses, the Ramayana is one such epic, which provides a pathway to one committed to justice to establish himself as an ideal human being by following the exemplary life of its hero.
Vallabhbhai Patel: A Sardar of Farmers, A Matchless Social Reformer and the Maker of United India
Sardar Vallabhbhai Patel was instrumental in unifying the princely states to form the Union of India.
Understanding Prosperity: NOBEL Prize awarded for groundbreaking research on institutions and economic development
The Royal Swedish Academy of Sciences has awarded the Memory of Alfred Nobel to three US-based economistsDaron Acemoglu, Simon Johnson, and James A. Robinson\"for their studies on how institutions are formed and affect prosperity.\"
Sinking Resources: Groundwater crisis and sustainable solutions in Kolkata
Kolkata's underground water crisis is becoming a serious issue, driven by rapid urbanization and the construction of high-rise buildings.
Tourism Industry positively impacted by the festive season
Diwali transforms streets into a spectacle of festive lights, Diwali transforms streets into olis, and families gearing up for grand celebrations.
RBI's Shift to a Neutral Stance: Signaling a New Phase in Monetary Policy
For over a year, the Reserve Bank of India (RBI) has taken a firm stance against inflation, raising interest rates by 250 basis points between May 2022 and February 2023 in response to post-pandemic price pressures.
UK Budget
There _ he latest UK budget represents a departure from previous fiscal documents.
Han Kang's Historic Nobel Prize Win
The 2024 Nobel Prize in Literature has been awarded to T South Korean writer Han Kang, 53, known for her works including The Vegetarian, The White Book, Human Acts, and Greek Lessons.
