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Part - IX

In addition to the above points some strategies like relaxation of labour laws so that public sector companies can increase the labour productivity by the rationalization of manpower through cutting down of total employee strength, increase in infrastructure and housing development and also cutting down on logistics cost by setting up plants near major markets or near shores so that they can easily be transported or exported to customers can also be included.

Conclusion

With the onset of liberalization, the steel industry has to become competitive, not only to meet domestic competition, but also the global competition in terms of product range, quality and price. The growth of the steel sector is intricately linked with the growth of the Indian economy and especially the growth of the steel consuming sectors. Indian though is able to compensate for the domestic demand of steel but it has to look for more lucrative markets through exports and make itself a force in the steel sector. Production and production capacities should be increased through expansion and installation of new plants using secondary steel making routes that are more cost effective and quality conscious. At the same time, productivity of our steel plants must be maintained at levels close to international standards.

All in all, in order for the Steel Industry to become globally competitive it is important that strategies have to be made so that bottlenecks in the growth of this sector are removed and the companies are more responsive to change. As Charles Darwin once said, "It is not the strongest of the species that survive, or the most intelligent, but the ones most responsive to change". Those that respond without delay will be the success stories of the future.

Concluded.

* Contributed by: -
Amit Chaddha,
B.E. (Metallurgy), MMS (Marketing),
School of Management Studies,
MNNIT Allahabad.