The steel industry in India is a significant industry. This industry proceeds to drive the country’s industrial development. It is one of India’s most booming industries and the liability of several small and medium-sized enterprises. The industry is reliant on transport and communication; the energy, as well as the fuel industry, is dependent upon it. India is known to be the second-largest steel producer in the entire world. This article contains a list of the top 5 Steel Companies in India.
Size Of The Market
India’s ultimate consumption of steels improved by 7.5% in FY08-FY19 to 97.54 million Tons at CAGR. The production of rough steels and finished steel in India grew to 106.56 million tons and 131.57 million tons respectively in 2018-19.
The steel exports from India committed to 6.36 MT in 2018–19. FY20P accounted for 7.78 MT for exports and imports of fined steel, respectively 6.39 MT.
Challenges faced by the steel industry
To unleash the demand-led extension of the steel industry in India, the government is struggling through extensive reforms to strengthen infrastructure to improve productivity. It would be fascinating to see how India achieves its reform agenda and infrastructure plans to make way for optimal growth and expansion of the steel industry.
In parallel with this, there are specific international trends such as the looming trade wars and economic slowdown, which will test the mettle of the Indian steel industry. During this backdrop, there may have been some concerns as the government is crawling closer to signing the Regional Comprehensive Economic Partnership deal, which will clear the way for duty-free steel imports.
Top 5 Steel Companies in India
1. Tata Steel Ltd.
Tata Steel was founded in India as Asia’s first integrated private steel company in the year 1907, Owned by Tata Group. The companies crude steel capacity beyond Indian operations is approximately 19 MnTPA. Tata Steel has its manufacturing units at Jamshedpur, Jharkhand, and Kalinganagar; Odisha Tata Steel obtained Bhushan Steel Limited in the year 18-19. Tata Steel group obtained the steel business of Usha Martin Ltd. through one of its subsidiaries
- Capacity in India: 19.4 MnTPA
- Capacity Overseas: 14.6 MnTPA
- Total Sales: Rs 1,60,769 Cr.
- Total Capacity: 34 MnTPA.
2. Essar Steel India Ltd.
Essar Steel is recognised for its high-quality flat steel products. The Company concentrates on high value-added grade steels and has developed more than 300 grades of flat steel for various applications.
Essar Steel lays great importance on sustainability and is aligned with the World Steel Association’s sustainability indicators. Essar Steel is a climate action member and a signatory to the Sustainability Charter, WSA and has been identified for Safety & Health Excellence thrice over the last five years from the Association.
- Total Capacity: 10 MnTPA .
3. Jindal Steel & Power Ltd
Jindal Steel & Power Limited (JSPL) is a leading Indian Steel manufacturer and Power producer. The Company has a well-spread out established finished steel capacity of 6.55 MTPA prudently divided over Bar Mills, Plate Mills, Rail & Universal Beam Mill, Medium & Light Structural Mill, and Wire Rod Mill.
- Total Sales: Rs 39,652 Cr.
- Total Capacity: 11 MnTPA .
- Capacity in India: 8.6 MnTPA.
- Capacity in Oman: 2.4 MnTPA.
4. JSW Steel Ltd
JSW Steel is known to be a flagship company of the JSW Group and the second-largest steel companies in India. Beginning with a single plant in the year 1982, now JSW Steel is India’s principal manufacturer of value-added and high-grade steel products. The Company has its plants in Karnataka, Tamil Nadu, and Maharashtra.
- Total Sales: Rs 84,050 Cr.
- Total Capacity: 18 MnTPA .
5. Electrosteel Steel Ltd.
As the pioneer of proposing Ductile Iron Pipes in India, the Electrosteel Group has verified itself as an international brand that appreciates the commitment to excellence. Being India’s leading pipeline solutions provider, Electrosteel has been producing clean drinking water to innumerable people– a promise of quality that has driven it to achieve international benchmarks and recognised worldwide as a leader that knows the priorities of the customer across 35 countries.
- Total Capacity: 7.3 MnTPA
FAQs
1] Is the steel business profitable in India?
Steel is essential to the development of a modern economy and is considered to be the backbone of human civilisation. India’s economic growth is reliant on the growth of the Indian steel Industry. Steel remains to have a stronghold in traditional sectors such as construction; special steels are frequently being practised in engineering industries such as power generation, petrochemicals and fertilisers. India maintains a central position on the global steel map, with state-of-the-art steel mills, acquisition of global scale capacities by players, constant modernisation and up-gradation of older plants, developing energy efficiency and backward integration with international raw material sources.
2] Which is the largest steel company in India?
Based on Turnover and Capacity, Tata Steel Ltd is the largest steel company in India.
3] Who is the biggest exporter of steel?
China