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Strategies & Market Trends : India Stocks

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From: LoneClone	11/16/2008 12:52:31 PM
	of 2517

India to become 2nd largest steel producer after China steelguru.com Mr Ram Vilas Paswan Indian minister for steel, chemicals and fertilizers on the occasion of 46th National Metallurgists Day Celebrations at India Expo Centre in Greater Noida said that Indian Steel Industry is gradually positioning itself as a global leader by inching towards capturing the second position in production of steel. He said that “Presently the fifth largest steel producer after China, Japan, USA and Russia and India soon become the second largest steel producer after China.” He said that “India is endowed with significant ferrous and non-ferrous mineral resources and these rich raw material deposits have played a major role for the steel industry carving out a niche for itself.” Expecting marginal variation in the projected Steel production of 124 million tonne by 2011-12, the Minister said India’s Steel industry has a bright future.

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