HOW HAS THE INDIAN STEEL INDUSTRY FARED THROUGH NEO-LIBERALISM?
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© Susmita Dasgupta 2009
Ever since the FY 2003-04, India has been experiencing an economic boom. Riding high on this boom is the Indian steel industry. For the common man, the steel boom was experienced as never before increase in the prices of steel items. Between June 2003 and December 2008, the prices of rounds soared by 122%, TMT bars and wire rods by over 100%. Relatively lower rises were evident in flat products namely HR Coils registered a price rise of 56% and GP sheets, the most widely used and purchased steel item rose by only 36%. The present article explores how the Indian steel industry has behaved during this period of strong northward rush of steel prices.
Susmita Dasgupta is Deputy Chief Economist with the Ministry of Steel, India. She has over 18 years of experience covering a wide spectrum of management functions with experience of working with the Ministry of Steel, including macro and micro-economic changes in the Steel industry and tracking sociological determinants of economic performance as a Dy. Chief Economist in the Jt. Plant Committee.