Question
Which country is the world's largest producer of
Steel?Solution
- In March 2022, with a production of 10.9 million tonnes of steel in India, the growth rate is 4.4%.
- In October 2021, India was the world’s second-largest producer of crude steel, with an output of 9.8 MT.
- India is also the largest producer of Direct Reduced Iron (DRI) or Sponge Iron in the world in January – December, 2019, producing 36.86 million Tonnes Sponge Iron with growth rate 7.7%.
- The Government anticipates bringing in additional investment of about Rs.40,000 crore along with generating an overall employment to about 5.25 lakh.
- Under Union Budget 2022-23, Rs. 47 crore were allocated by the government to the Ministry of Steel.
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