The Indian steel industry is one of the most important industries in India. The industry is responsible for the production of a variety of steel products, including pipes, plates, coils, bars, and sheets. The industry is also a major contributor to the Indian economy, accounting for over 2% of the country's GDP. The steel industry in India has a long history, dating back to the days of the British Raj. The industry began to grow rapidly in the post-independence period, with the government investing heavily in the development of the sector.
Did you know? Early impact shows that the liberalisation has brought about a qualitative change in the Indian iron and steel sector.
Overview of Steel Companies in India
The Indian steel industry is highly fragmented, with a large number of small and medium-sized companies. However, there are a few large companies that dominate the industry, such as Tata Steel, JSW Steel, and SAIL. These companies have a strong presence in both the domestic and international markets.
List of Steel Companies in India
The Indian steel industry is expected to grow significantly in the coming years, due to the increasing demand for steel products from the construction and infrastructure sectors. The industry is also likely to benefit from the government's focus on the Make in India initiative.
SAIL is the largest steel-producing company in India and one of the seven Maharatnas of the country's Central Public Sector Enterprises. Under the Ministry of Steel, the company is headquartered in New Delhi and has been operating in the Indian steel industry since 1973. It is India's largest steel manufacturing company, with an annual turnover of around ₹66,267 crore. The company produces basic and special steel products for railways, automobiles, bridges, buildings, power, defence, and engineering industries. It operates through five steel plants, three special steel plants, and one ferroalloy plant.
Tata Steel is one of the largest steel conglomerates in the world, with an employee base of over 65,000 people. The company is headquartered in Mumbai and has been operating in the Indian steel industry for over 100 years. It is Asia's first integrated steel plant and is now the world's second-most geographically-diversified steel producer. The company produces a wide range of steel products for construction, automotive, packaging, and other industries.
Jindal Steel & Power
Jindal Steel & Power Limited (JSPL) is an Indian steel and energy company based in New Delhi, India. JSPL is India's largest and most diversified steel company, with an installed capacity of over 18 million tonnes per annum (MTPA) of crude steel. It is the only steel company in India with the widest range of steel products. It is the only steel producer in the country capable of manufacturing a complete range of long steel products.
The company has the world's largest coal-based sponge iron plant and is the largest producer of rails for the Indian Railways. JSPL is also the largest power generation company in the private sector in India, with an installed capacity of 4,400 MW. JSPL has a strong presence in various sectors, such as steel, power, mining, infrastructure and construction. The company has a significant footprint in over 50 countries across the globe.
Essar Steel is a steel company based in India with a history dating back to the late 19th century. The company has a strong presence in the global steel market, with a production capacity of over 10 million tonnes per year. Essar Steel is a vertically integrated company, with operations spanning the entire steel value chain from iron ore mining and beneficiation, to steel production and manufacturing, to downstream products and services.
The company has a strong customer base in India and a growing presence in international markets, focusing on the Asian and African markets. Essar Steel is committed to sustainable development and has a robust environmental, social and governance (ESG) framework in place. The company has been recognised as a leading steel producer in India for its commitment to quality and environmental standards.
JSW Steel is an Indian steel company owned by the JSW Group. The company is the second largest steel producer in India, with an annual production capacity of 18 million tonnes. JSW Steel is headquartered in Mumbai and has plants in Karnataka, Tamil Nadu, and Maharashtra. The company produces a wide range of steel products, including hot and cold rolled coils, plates, sheets, and pipes.
JSW Steel has a strong presence in the global steel market, with a customer base in over 100 countries. The company has a large research and development team constantly innovating and introducing new products and technologies. JSW Steel is a leading player in the Indian steel industry and is poised for growth in the coming years.
Steel Authority of India
Steel Authority of India (SAIL) is one of the largest steel-making companies in India and one of the seven Maharatnas of the country's Central Public Sector Enterprises. It is a public sector undertaking that trades publicly in the market, with the Government of India holding a majority stake of 58.33% in the company.
The company is headquartered in New Delhi. SAIL is the second-largest steel producer in India, with a turnover of ₹52,152 crores (US$7.6 billion) in the financial year 2018–19. The company has a total workforce of 79,722 employees (as of March 2019). It has five integrated steel plants, three special steel plants, and one ferroalloy plant. It produces a wide range of steel products, including hot and cold rolled sheets, plates, coils, wire rods, bars, railway tracks, pipes, and tubular products. It is among the top Indian firms producing iron ore and coal.
Rashtriya Ispat Nigam
Rashtriya Ispat Nigam is one of the largest steel-producing companies in India. The company is headquartered in Visakhapatnam and has been operating in the Indian steel industry for over 30 years. It is the fifth-largest steel producer in India, with an employee base of over 35,000 people. The company produces a wide range of steel products for construction, automotive, and other industries.
Bhushan Steel is an Indian steel manufacturer based in New Delhi. The company produces a range of steel products, including hot and cold rolled sheets, coils, plates, bars, and rods. It has a network of over 500 dealers and distributors across India. The company was founded in 1954 by Brij Bhushan Singal. It was originally set up as a small trading business in Kolkata.
The business expanded rapidly, and by the early 1960s, Bhushan Steel had become one of the largest steel traders in India. In the late 1960s, the company started manufacturing steel products at its plants. Bhushan Steel has a workforce of over 10,000 employees. The company's shares are listed on the Bombay Stock Exchange and the National Stock Exchange of India.
Electrosteel Steels is an Indian steel company headquartered in Kolkata. It is a part of the Electrosteel Group, which also has interests in engineering, power generation, and construction. The company has two integrated steel plants, one in Bokaro, Jharkhand and the other in Durgapur, West Bengal. Electrosteel Steels produces a range of steel products including pig iron, billets, wire rods, TMT bars, and ingots.
The company has a strong focus on quality and has ISO 9001, 14001, and 18001 certifications. Electrosteel Steels has a strong customer base in India and exports its products to over 30 countries. The company is also working on expanding its capacity and has plans to set up a new plant in Odisha.
Welspun Corp is an Indian multinational conglomerate based in Mumbai, Maharashtra, India. It is one of the largest producers of steel pipes in the world. The company was founded in 1985 by B.K. Goenka. It has grown to become one of the world's largest producers of steel pipes, with a production capacity of over 3 million tonnes per year. The company has a strong presence in over 50 countries and supplies its products to some of the world's largest oil and gas companies.
Also read: How to Grow Your Business? 10 Key Steps
Steel industry is growing positively and rapidly. The new greenfield plants represent the latest in technology. Output has increased, the industry has moved up in the value chain and exports have risen consequent to a greater integration with the global economy. Today, the Indian steel industry is one of the most advanced in the world, with a strong base of both private and public sector companies.
Follow Khatabook for the latest updates, news blogs, and articles related to micro, small and medium businesses (MSMEs), business tips, income tax, GST, salary, and accounting.