India can become a global leader in steel on the base of sound technology, logistics and enabling environment
India's growing economic dynamism requires a productive and best-in-class steel industry that will help push growth to the 8-10 per cent region. On one hand, we are seeing tempering of demand in countries such as China, slow abatement of global over-capacity and de-intensification of steel in the economies. On the other, we see India sitting on the cusp of steel industry growth.
Technology, productivity, economics and policy will play the determining role in establishing India as one of the most productive steel-producing nations in the world. However, that does not mean that India should set its ambitions to rival China in capacity. Nor does it mean that we devote our energies to claim bragging rights in producing value added specialised steels – unless of course strategic considerations for the nation demand it.
Atanu Mukherjee, President, M.N. Dastur & Company (P) Ltd expresses his views in the April 19, 2018 issue of Hindu Business Line.