Today, we stand on the threshold of a momentous era. India, the world’s fastest-growing major economy, is set to be a global powerhouse, and steel has been and will be the very backbone of this progress. Prime Minister Narendra Modi unveiled the road map for Viksit Bharat, envisioning India as a developed nation by 2047.
With a focus on accelerating manufacturing and infrastructure growth, the next five years will be pivotal for the steel industry, driving India’s ascent towards a $5-trillion economy and beyond. This 100% recyclable material is increasingly becoming a key lever of manufacturing and infrastructure development, innovation, and technological advancements.
With an output multiplier effect of nearly 1.4x on the gross domestic product (GDP) and an employment multiplier factor of 6.8x, steel contributes 2% to the country’s GDP and employs over 600,000 people directly and 2 million people indirectly.
Historically, nations that embraced steel-intensive growth, such as Japan, South Korea, China, and Singapore, recorded faster industrialisation. India— the second-largest steel producer in the world—is now treading a similar path.
FROM SELF-RELIANT TO GLOBAL SUPPLIERS
The push of infrastructure and manufacturing sectors is critical for Atmanirbharta. From the foundations of our homes to the soaring skylines, marvellous and resilient infrastructure to cutting-edge technology, steel is the bedrock of modern development. The share of building and infrastructure construction alone in overall steel consumption is about 65%.
この記事は Business Today India の February 18, 2024 版に掲載されています。
7 日間の Magzter GOLD 無料トライアルを開始して、何千もの厳選されたプレミアム ストーリー、9,000 以上の雑誌や新聞にアクセスしてください。
すでに購読者です ? サインイン
この記事は Business Today India の February 18, 2024 版に掲載されています。
7 日間の Magzter GOLD 無料トライアルを開始して、何千もの厳選されたプレミアム ストーリー、9,000 以上の雑誌や新聞にアクセスしてください。
すでに購読者です? サインイン
The EV Craze
The country’s growing luxury car market is seeing a shift with environmentally-conscious consumers betting on electric vehicles as a sustainable travel option. Though just 6%, the share of EVs in the luxury segment is rising rapidly
The Storage Boom
Data centres are being built at a frenetic pace in india as companies scramble to meet the ballooning demand from mobile phone users and firms adopting al. Can the country’s energy infrastructure keep up?
India Beckons
Owing to rising incomes in India and overall wealth expansion, luxury brands are wooing the country like never before
The Pearls of The Sea
Caviar, that rare food, is considered the epitome of fine dining. Here is everything that you need to know about it
66.Brand persona should define the core"
I’d say this was a strategic pivot. We had an iconic brand, but had, over time, evolved into diversified lines of businesses that could no longer be represented within the confines of our ‘name’.
Unwind in Style
Here is acomprehensive list of top tech picks that help you unwind by blending perfection in performance with luxury
A Lifelong Affair with Inspiration
In my art journey, the diversity of my acquisitions mirrored the expanding horizons of my understanding of art
Make it Bubbly
Champagne is much more than just a symbol of celebration and success. Know about its nuances beyond the bubbles
Palatial Splendour
Buoyed by renewed demand, sales of the glitzy mansions of the ultra-rich are surging like never before. Real estate majors are looking to capitalise on this by launching luxury offerings in record numbers
Of Beaches and Cream
GianChand Single Malt Whisky
