IMPACTING INDIA’S DEVELOPMENT AND ECONOMY

Infrastructure development is a key indicator of our country’s growth. As businesses grow and expand, the infrastructure must be developed to meet the need of the hour. A major component in all building activity is steel. In the financial year 2020-21, India has been the second largest producer and consumer of crude and finished steel, producing 96.9 million tones (MT) of crude steel, up 20.6% year on year. The steel sector alone provides 20,00,000 jobs in the country and the growth in the steel sector is expected to improve the economic growth rate of India.

The steel sector in India has a very high potential when it comes to contributing to the Nation’s overall development. Steel is not only used in building houses, but also in automobile manufacture, utensils, and packaging. It has an employment multiplier effect of 6.8x and an output multiplier effect of 1.4x. The factors that give India a competitive advantage in steel production, are significant. For instance, the availability of indigenous high-grade iron ore and non-coking coal, which are two key elements in steel production, is a major contributor to the country’s edge in this area of production. A growing domestic and global market, vibrant MSME sector, and competitive labor costs, are also major factors contributing to India’s advantage over other steel producers. Shree TMT is a key player in the steel industry today, producing steel rods for construction purposes. These steel rods, available from 8mm to 36 mm dia, are manufactured in a state of the art facility, using cutting edge technology and BIS approved processes. These bars are synonymous with superior strength, ductility, bendability, and weldability. The quality and durability of Shree TMT bars keeps customers returning for repeat orders, as the superiority of the product is significant. Shree TMT prides itself on maintaining stringent quality standards, in an effort to maintain India’s advantage in the global market. Shree TMT is the flagship company of Devashree Ispat Pvt. Ltd., established by the Goenka family in 2005. It is, in fact, one of the few companies in India with a BIS license to manufacture TMT bars up to the Fe 550D grade. Shree TMT steel bars have been used in dams, flyovers, and world class highways, reflecting the Company’s commitment to taking infrastructure development in India to the next level.