India is chasing a goal of 120 million tonnes of steel by 2012, but it would first have to get past red tape
The steel mills in India are rolling to life again. All major companies in the sector have recorded at least a 50 percent jump in sales for the first three months of the financial year. Excited at this unexpected bright spot in the industry, union steel minister Virbhadra Singh announced the sector’s capacity will double to 120 million tonnes by 2012. But what are the factors that need to fall in place for capacity to double?
(This story appears in the 14 August, 2009 issue of Forbes India. To visit our Archives, click here.)