India is the second largest steel producing country in the world only below China. The steel production in India is expected to reach 128.6 million tons by 2021, as per the Economic Survey 2018-2019. Easy availability of low cost labour, raw materials and presence of abundant iron ore reserves are some of the factors contributing to massive steel production in the country. The industry is witnessing large-scale investments from the private entities apart from policy support from the government of India. As iron and steel industry is considered to be the backbone of all major industries, there is an influx of investments from other sectors as well.

Working in tandem with latest technological advancements in thermo-mechanical processing, the industry is striving for continuous modernisation of the manufacturing equipment so as to achieve better efficiency at the same spend. Given the availability of large number of players in the industry, the market is becoming increasingly competitive. With growing demand for robust steel in the modern industries, leveraging latest technologies is what addresses the needs of...