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In the past several years, the Indian steel industry was developing swiftly and now it plays an important role in the country's economic growth. The country has also gained an important position on the global steel map due to its giant steel mills, acquisition of global scale capacities by players, continuous modernization & up gradation of old plants, improving energy efficiency, and backward integration into global raw material sources. Global steel giants from across the globe have shown keen interest in the steel industry due to its phenomenal performance. A lot of new steel plants have been set up in the country due to huge foreign investments and state-of-the-art technology.. In 2010 India was ranked as the fourth largest producer of steel by the World Steel Association.
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