Owing to the availability of low-cost labor and the presence of vast iron ore reserves, India is globally competitive in the steel market. Multiple Indian conglomerates dot the landscape of the global steel market with the top competitors of Indian steel sector like Tata Steel and JSW Steel making it among the top steel producers of the world.
Let us have a look at the top competitors of Indian steel sector:
Tata Steel is one of the top steel producers in the world with a large global footprint. Tata Steel production capacity in India is recorded at 20.6 MnTPA. Tata Steel products are sold worldwide with manufacturing and downstream facilities in India, the UK, the Netherlands, and Thailand.
Tata Steel products are one among the best steel products in India conforming to global and Indian standards of production. They cater to segments including agriculture, automotive steels, construction, consumer goods, etc.
Established in 1982 as Jindal Iron and Steel Company, JSW Steel is one of the leading steel producers in India. JSW Steel has 14 steel manufacturing facilities in India and produces around 28.5 MnTPA of steel in its manufacturing facilities in India and USA.
JSW Steel has built the world’s largest conveyor system that travels around 24 km from the captive mines to its Vijayanagar plant. The objective of the conveyor system is to reduce transportation costs. The JSW steel production facility in Vijayanagar is India’s largest single-location integrated steel-making facility, with an annual capacity of 12 million tonnes.
Steel Authority of India Limited (SAIL)
SAIL is owned by the government of India is one of the top competitors of Indian steel sector. The company has established five integrated steel plants, five refractory plants and three special steel plants. The company’s production capacity is about 20.6 MnTPA of crude steel. SAIL’s product range features pig iron, cold rolled steel, TMT bars, steel pipes, etc.
Jindal Steel and Power (JSW)
Founded in 1979, Jindal Steel and Power is a leading Indian conglomerate with a dominant presence in steel, power, mining and infrastructure. The company produces 9.6 MnTPA of crude steel in its Indian factories.
The Company owns and operates state-of-the-art facilities in Chhattisgarh, Odisha and Jharkhand including integrated steel plants and pellet plants. The company’s product portfolio ranges from flat products to long products and rails.
India has become one of the top competitors in the global steel market primarily because of its iron ore reserves. The market started rose rapidly after the top competitors of Indian steel sector began their domestic operations and export of steel products.