What effect does the iron and steel industry have on the indian economy?

Question

What effect does the iron and steel industry have on the indian economy?

Answer 1

Like in any economy, iron and steel do have major impact on Indian Economy too. It is one of the major component of nation building in modern time. Metals are precious and iron & steel is no exception. India is one of the major producers of steel in the World as well as a major consumer of this commodity. After a sluggish trend internationally , the iron & steel prices are firming up again. Watch for the companies involved and see for yourself the importance of this metal in Indian Economy.

Answer 2

it's going to weigh it down

Answer 3

Actually it is helping India's economy alot

Answer 4

It will help in infrastrutural and Construction development of the country and inturn will have positive impact on the indian economy