Top 10 Steel Companies Leading in India (2020) By Prem Sardana 0 0 India is a land of extensive natural resources and minerals, one of them being the iron ore, which is domestically produced and available in plenty in the country. One great advantage that India draws from the easy availability of iron ore back home is that it stands as the second-largest steel producer in the whole world. Now, the importance of steel is not unknown and therefore doesn’t need much elaboration. All your stainless steel vessels, crockery, cutlery, and iron box are all by-products of steel. Can we imagine our daily life without any of these? Perhaps not. And the credit for bringing these daily essentials to our home clearly and undoubtedly goes to the numerous companies involved in the production of steel. This post is intended to educate you about the top steel companies in India that make all these comforts possible for us. Let’s take a look. 1. Rashtriya Ispat Nigam Limited (RINL) One of the best names among the top 100 steel companies in India, this one is undoubtedly the most profitable venture of the Govt. of India. This is because the company is renowned for the best-quality steel production in the country ever since it first came into operation in 1982. The company is also known by the name of Vizag Steel owing to the location of its headquarters in Vishakhapatnam (Visag). Click here to See Career Opportunity 2. Visa Steel A relatively newer firm that came into existence in the early 2000s, the company is based out of Kolkata. Vishambhar Saran founded the company, which is considered to be the pioneer in the private steel sector in India. The company deals in the production of steel bars and wire rods used in construction, and ferro chrome used in stainless steel goods. It has a reputable name in the market for supplying high-quality steel at competitive prices. Click here to See Career Opportunity 3. Essar Steel The company was started by the Essar Group in 1998 and has been growing by leaps and bounds ever since its inception. The company boasts of producing as much as 10 million metric tonnes of steel every year. Besides that, Essar Steel is also engaged in the manufacture of several steel-based goods, such as steel plates that are burnt to shape, pipes, steel and beams welded in factories. This is why the company enjoys a huge profit margin as well as an annual income of $3 billion. 4. Tata Steel SOURCE The name needs no introduction, being one of the oldest and the largest steel plants in India since several decades. Part of the Tata Group of Companies, Tata Steel displays impeccable quality in its production of steel, true to the name and repute of the Tata Group. The company accounts for almost $ 20 billion every year. Click here to See Career Opportunity 5. JSW Steel The company belongs to the Jindal Group of Industries and is one of the well-known iron and steel companies in India. In fact, it has earned the repute of being the steel ambassador for India to a number of other countries like the USA, Italy, Chile, and the UAE. JSW is not only the largest exporter of steel for India but has also made the country proud in contributing to a number of home-grown infrastructure projects such as Yamuna Expressway, Hyderabad Metro, and Mumbai T2 Airport. Click here to See Career Opportunity 6. Bhushan Steel Next on our list of steel companies in India is Bhushan Steel, the proud supplier to automobiles manufactured under the brand of Hero Motocorp, Maruti Suzuki, or Mahendra. Besides that, the company’s steel has also come in great use at a number of other big brands such as the likes of LG, Godrej, and Whirlpool. Click here to See Career Opportunity Also check: Top 10 Best Cement Manufacturing Companies in India (2019) 7. Mesco Steel With its base in Odisha, MESCO Steel came into existence in 1992 and has been delivering superior quality goods at competitive prices to the Indian market. Some of its specialty products include iron ore fines, calibrated pump ore, and pig iron, while they also manufacture plates, boulders, and runners for a number of high-profile firms in India. 8. Facor Steel Founded in as back as 1956 by Late Sri DurgaprasadjiSaraf, FACOR Steel was also among the top 10 steel companies in India 2018list. Today the company is engaged in the production of steel goods for household use and in construction sites across India. Some examples include stainless steel, valve steel, semi-fine cutting steel, silico manganese steel, etc. 9. Steel Authority of India Limited (SAIL) It is one of the top leaders when it comes to steel manufacturing companies in India for government organisations. In fact, RINL has also been created by SAIL with the intention to promote the production of steel in India. The company is involved in numerous tasks such as constructing rural roofs in villages, a railway station in a metro city, and the like, ensuring that people gain access to the best quality steel at competitive rates. 10. Jindal Steel and Power SOURCE The last on our list of the largest steel companies in India, Jindal Steel and Power is yet another offering from the renowned Jindal Group. The company also accounts for the highest steel production in the private market. Jindal Panther TMT Bars are famously known across the country. Going beyond its operations in India, the company also today serves the African market, Australia, Indonesia, and Oman. Click here to See Career Opportunity Why is Steel So Important to Us? As mentioned at the beginning of this post, steel is used in abundance in our country to practically build everything from spoons to bridges, so to speak. Here’s some of the reasons why we can’t do without steel: Steel is vastly used in household productsNearly 50% of the steel manufactured is used for construction purposes in both infrastructure and propertyAll our bridges, railway tracks, and buildings are built with the help of steel used in the manufacturing process Fast Facts about Steel Production in India The country’s demand for finished steel goods continues to grow at a rapid pace. It is therefore estimated that by 2030-31, India’s consumption of finished steel would reach nearly 230 metric tonnes from 90.68 metric tonnes recorded in 2017-18. The whopping growth in steel’s demand-supply graph has invited investment interests from several other industries. This includes international firms as well. India boasts of easy availability of abundant iron ore reserves as well as extremely cheap manpower, both of which help it to compete in the global setup. India is even expected to shove back the USA in the race for being the world’s second-largest steel consumer in the year 2019. India closely follows China, the largest steel exporter in the world, and stands second in position. Odisha has the maximum production of steel in the country, nearly 18 million tonnes per annum. Rourkela Steel Plant in Odisha is the first integrated steel plant in India’s public sector. It had been founded in the 1960s in collaboration with West Germany, with an installed capacity of 1 million tonnes. The plant is run by SAIL. Bhilai Steel Plant earns the title of being the largest iron and steel plant in the whole of Asia. ArcelorMittal S.A. was reported to be the largest steel producer in the world in 2017 at an annual production of 97.03 million metric tonnes. This accounted for over 6% of the global crude steel production. The steel industry in India is capable of producing nearly 102 million tonnes of steel per annum. As part of the Digital India vision of the Indian government, a platform named Metal Mandi has been launched to sell steel goods online. From Iron Ore to Steel – The Complete Process We’ve been discussing steel at great length but ever occurred to you how is steel actually prepared from a raw material like iron ore? Firstly, iron ore is mined via ground digging, where it lies in abundance. Iron ore is then smelted in blast furnaces in order to eliminate all its impurities. Thereafter, carbon is added to the pure iron ore (generally even less than 1%), thereby facilitating the formation of steel. In other words, steel can be defined as iron alloyed with carbon. Now, coming to the preparation of stainless steel, which would be perhaps of more interest to us, considering that we use it in day-to-day life? To make stainless steel, all the raw materials such as iron ore, chromium, silicon, and nickel are all melted together in an electric furnace. Herein, they are exposed to intense heat for nearly 8-12 hours. The melted mixture is then cast into different shapes like blooms, billets, and slabs and then into solid form. Summing Up Steel has come to be used as one of the most basic commodities everywhere around us that we’ve never really stopped and thought about how it is made, who makes it, and how it reaches us. Hope the above post did serve the purpose of informing you all about steel that you ever wanted to know.