(The Machinary that Runs the Business Cycle).
Iron & Steel Industry(Growing Strong)
This is one industry that is considered the world’s mightiest and the most active industry.There is an ministry for this specific industry in the government of India which makes it special.The industry is always in an ascent and does not often face a downfall(may be!). The toughest part of the industry is the uncontrollable nature of price . The raw materialindeed is iron ore and the depletement of this resource is a reason for the increasingdemand and price. India being the top and foremost producer of iron ore , The industrycontributes lot to the economy of the country. Now, India has shifted it’s focus from the already saturated IT towards Infrastructure of the country and has indused people of thecountry to invest in the forms of bonds by introducing tax benefits in the forms of newtax clauses such as 80cccs and 80ff and the thought has worked and their is large inflowsfor infrastructure in the country. This by inverse has helped effect in the increase ofdemand for the industry………
[To be continued next week]