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Abstract
India has significant presence in production of basic and extra lagging iron and steel products. The Indian Iron and Steel sector accounts for 13-14% of total exports and 8-9% of total imports of India. In terms of volume of production, it is the twelfth-largest in the world and the third-largest in Asia, after China and Japan. Despite its large size and significant GDP contribution, Indian Iron and Steel industry represents only around 3% of global production. Currently the per capita consumption of products of the Indian Iron and Steel industry is one-tenth of the world average, which reflects the huge potential for further growth. The Indian advantage lies in the manufacturing of basic Iron and Steels that are also known as commodity Iron and Steel s that account for about 57% of the total domestic Iron and Steel sector. Iron and Steel products are a part of every aspect of human life, right from the food we eat to the clothes we wear to the cars we drive.