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Jobs in the Steel Industry

India is the third largest steel producer in the world. The growth in the industry has been piloted by a domestic availability of raw materials and cheap labour. Furthermore, its future depends on the development of its related industries such as automobiles, infrastructure, and oil and gas since domestic steel demand is set by these sectors.

With the crude steel production growing at a rate of 5.49% over the previous six years, India produced 97.42 metric tonnes (MT) of crude steel in 2017. In 2017-18, the crude steel and finished steel production stood at 102.34 MT and 104.98 MT respectively. The sector contributes about 2% to the country’s GDP and employs around two million Indians in the skilled and unskilled labour force. Globally, India was the only major steel consuming market and consequently, this saw a rise in demand. During FY08-FY18, steel consumption has grown at a rate of 5.69% to attain a maximum of 90.68 MT. Finished steel exports increased by 17% in 2017-18 to reach 9.62 MT as compared to 8.24 in 2016-17.

Reports of the Department of Industrial Policy and Promotion (DIPP) reveal that the steel sector along with its associated metallurgical industries has garnered a Foreign Development Investment (FDI) of USD 10.84 billion during the period April 2000 – June 2018. As per the National Steel Policy (NSP), to achieve the targeted steel capacity build-up of 300 million tonnes per annum (MTPA) by 2030, an investment of USD 156.08 billion would be required by 2030-31. The NSP has envisaged a per capita steel consumption of 160 kg by 2030. With a preliminary corpus of INR 200 Crores, the Steel Research and Technology Mission of India (SRTMI) is being set up by the Ministry of Steel to fuel research and development activities in the iron and steel industry.

Vacancies in the Steel Industry

The current rate of robust growth and a huge scope for future development in the sector, demands for jobs in the steel industry are on the rise and offer a chance for a lucrative salary and a bright future. The average CTC went up as high as INR 14.64 Lac per annum in Bangalore in 2016-17 and the national average CTC reached INR 13.32 Lac per annum.

Iron and steel production, being a core sector industry, contributes significantly to a country’s overall economic growth. India is expected to overtake Japan and become the world’s second largest steel producer in the coming years. Entry of international players, increased investments from the domestic players, an extension of the minimum export price on several semi-finished products of iron and non-alloyed steel, and imposition of Anti-Dumping Duty on 47 steel products by the Indian government will further spearhead growth and create vacancies in the steel industry.

If you are seeking a job in the steel industry, choose Randstad to win an edge over your competition. With over 25 years of experience in the consultancy services, we are fully devoted to assisting you in landing your dream job.

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