It is one of the most important industries in India
In the year of 2014 through 2015, India had been the 3rd largest producer of raw steel and had been the sponge iron in the world
The industry produced 91.46 million tons of total finished steel and 9.7 million tons of pig iron.
Iron ore has been used to produce most of the iron and steel
The ministry of steel and iron have concerned regarding the: the coordination and planning of the growth and development of the iron and steel industry in the country, both in the public and private sectors; formulation of policies with respect to production, pricing, distribution, import and export of iron and steel, ferro alloys and refractories; and the development of input industries relating to iron ore, manganese ore, chrome ore and refractories etc. , required mainly by the steel industry.
The public sector undertakings market their steel through the Steel Authority of India
What is Joint Plant Committee?
It was constituted in 1964 by the government of India
It was made to formulate the guidelines for production, allocation, pricing and distribution of iron and steel materials
It went through a major transformation in 1992
It had been made so that it can be a facilitator for industry, focusing on giving from to a comprehensive and non -partisan databank - the first of its kind in the country - on the Indian iron and steel industry.
It is the only institution in the country which collect and report data on the Indian iron and steel industry
The headquarters being in Kolkata regional offices in New Delhi, Kolkata, Mumbai and Chennai and an extension centre in Bhubaneswar, engaged in data collection.
The Economic Research Unit (ERU) at New Delhi serves as a wing of JPC to carry out techno-economic studies and policy analysis.