Investments boost the steel sector in India

Author: Paul Ploumis
04 Dec 2014 Last updated at 05:58:01 GMT
NEW DELHI (Scrap Monster): The result for the July-September quarter has been comparatively worse for the Indian economy than the 1st quarter, but lets not stress out on the negatives but look out on the positive side. The mining sector in the country has hiked by 1.9 percent, which is, of course lower than the growth in the 1st quarter, but absolutely higher than the 0 percent growth in the second quarter.

The growth in electricity and water is noted to be 8.7 percent, which is much better than that of last year, but could not out grow the hike in the last quarter. The growth in the  construction sector was also higher compared to the growth in the sector last year. The highest growth in the current quarter was experienced by the community, social and personal service sector, which also broke the growth in the last quarter. The growth in GDP, cuts off both the quarters’ of last year.

The use of steel in the water, electricity, and the gas sector is higher compared to all other sectors, hence it can be concluded that the 0.5 percent increase in the consumption rate of steel is a positive notion that the growth of the sector is  going in the right direction. Another factor which concerns steel is the poor manufacturing condition of steel, and the GDP in the last two quarters, quarter 1 and quarter 2 was lower by 3,011 crore.