Research Paper on Investment Opportunities in the Steel Sector of India on the Concept of Make in India
15 Pages Posted: 21 Apr 2015
Date Written: April 20, 2015
The steel sector is one of the most important and crucial sectors in the growth and development of a nation. It has been considered as the backbone of civilization in the universe. The level of per capita consumption of steel is an important determinant of the socio-economic growth of a nation. The Steel industry Sector of India has acquired a new development stage in the world since 2007-08 and is riding on the resurgent economy due to the growing demand of steel. As per the data released by World Steel Association recently, India steel production was second only to China among the top five steel producing countries of the world. The growth of steel production in India during the last five years has been registered at the level of around 33 around percent.
The “Make in India” is an international marketing strategy initiated by Mr. Narendra Modi, our worthy Prime Minister recently in Sept. 2014. The purpose of this scheme is to attract investments from businesses around the world. The concept of “Make in India” attempts to attract the inflow of Foreign Direct Investment to improve the services by partial privatization of loss making corporations in the Public Sector of India. The main focus of this scheme is to fulfill the purpose of job creation, enforcement to secondary and territory sector resulting in boosting of our economy and ultimately making India a self reliant and dominant country in the world.
This paper makes a modest attempt to find out the scope and viable opportunity for attracting foreign direct investment in the steel sector in India. The aim of this study is to understand the concern, overall requirements, modernisation and complete perception of the manufacturers of steel sector in India. The paper concludes by suggesting some important strategies and policies to make it a win-win situation for all the stake holders in Steel industry.
Keywords: Per Capita Consumption, Resurgent economy, Job creation, Foreign Direct Investment, Make in
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