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India is the world's third-largest producer of crude steel (up from eighth in 2003) and is expected to become the second-largest producer this year. The growth in the Indian steel sector has been driven by domestic availability of raw materials such as iron ore and cost-effective labour. Consequently, the steel sector has been a major contributor to India's manufacturing output.

The Indian steel industry is very modern with state-of-the-art steel mills. It has always strived for continuous modernization and up-gradation of older plants and higher energy efficiency levels.Market Size Steel production capacity of the country expanded from about 75 Million tonnes Per Annum (MTPA) in 2009-10 to about 90.5 Million tonnes (MT) in 2014-15. India produced 7.4 MT of steel in the month of June 2015 reporting the third highest production level globally which was 0.8 per cent higher than the country's steel production in the same month last year.

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