Question

Why is iron and steel industry called the basic industry? Explain any three reasons.

Answer 1

Iron and steel industry is called the basic industry because:

• All other industries – heavy medium and light, depend on it for their machinery.
• Steel is needed to manufacture engineering goods, construction material, defence, medical, telephonic scientific equipments and a number of other consumer goods.
• Production and consumption of steel is regarded as the index of country’s development. Today with 32.8 million tons of steel production, India ranks 9th among the world under steel producers.