Although India’s steel industry & PEB construction company Kerala is one of the biggest steel industries in the world, the case was not so from the beginning. There was a time in 2015 when the Indian steel industry had plummeted and had borne many losses.
With rapid losses, the steel industry had been low even in early 2016. However, the sector gained momentum in the latter half of the year. Although experts were not expecting a growth in the industry, the sector recovered quite quickly.
The Rises of the PEB construction company Kerala
There were a number of reasons for the quick recovery, and they were:
- Firstly, India’s imports had decreased and the exports were pushed. The domestic requirement of finished steel was high but not as large as before.
- Furthermore, India refined many policies, which acted as a catalyst for such growth.
- Growing exponentially, India’s refined import policies in 2015 gave a boost to the industry. These policies introduced Minimum Import Price (MIP), hiked import duty, anti-dumping and safeguard duty.
With all of the above-mentioned points in mind, since 2016, the steel industry in India has constantly risen. Another driving factor for such a rise in the country was the diminishing requirement of steel in the country, which led to a push in the exports. Exporting steel from the country increased production and gave way to growth.