The iron and steel industry is one of the most important industry in India.The growth in the steel sector has been driven by domestic availability of raw materials such as iron ore, coke, and cost-effective labor. Consequently, the steel sector has been a major contributor to the country's economy. In fact, we were the world's third-largest steel producer in 2017.
The great importance of steelmaking to national economy is not restricted to its immediate or direct application. A series of economic activities for the associated raw materials and energy are iron ore mining, coal mining, transportation, beneficiation, preparation,power construction, its generation and distribution, services, and so on.
Added to these large scale economics and industrial activities associated with the raw materials used for steel making, are ancillary downstream foundry, machining, fabricating and processing industries, as well as extensive services such as transportation and supplies which are given a big boost. Statistical evidence indicates that the production of raw steel is attended to by over twenty types of ancillary industries and associated economic activities.