The Indian steel industry has grown from being the tenth largest steel producer in the world in 1991 to emerging as the second largest, after China. This book aims to reveal, through data and the use of simple economic concepts, the mistakes that abound in the discourses surrounding the steel industry. Its main objective is to dispel the many myths that are perpetuated by policy makers and the industry in order to benefit a small coterie of large firms, and discusses how through such favours the Indian steel industry is set to lose out in terms of margins, products and growth in technology. It covers the unique role of the Indian state in the development of the broad base of steel production, and observes the change in the direction in policy, which reverses the economic equality of the past and promotes collusion among oligopolies leading to overexpansion in capacities.
Economics of the Indian Steel Industry
will be of interest to students of industrial economics and corporate strategy, as well as financial managers and policy makers.Susmita Dasgupta is a policy economist and a sociologist of popular culture. She has worked with the Joint Plant Committee, Ministry of Steel for the past thirty years and is among the busiest speakers at steel conferences in India.