There is a considerable growth expected in the metal industry of India in 2010. There was an increased demand for Indian steel in 2009 and saw an 8% growth. In the same year there was an international slowdown in the worldwide production of steel owing to closure of various industrial sectors in the aftermath of the economic slowdown.
Needless to say India is one of the cheapest producers of steel in the world. However due to an absence of careful and regulated planning there is a lack of sufficient progress in this sector.
The expectations of the Indian metal industry from the 2010 budget circles around tax benefits as well as specific benefits like that of a reduction of customs duty on zinc. Zinc is the basic ingredient for the production of galvanized steel sheets. Secondly the metal industry expects governmental intervention in removing imbalance of the demand and supply of steel products. It can be done through fiscal and trade control measures.
| Prem.m, City:-Kerala, Posted On :-2010-02-07 22:16:28 |
| IN India |
