Domestic sales of HR steel increase 10 per cent

By Our Corporate Bureau | 27 Apr 2004

1

New Delhi: Indian Steel Alliance (ISA) today said that production of benchmark HR steel by ISA member companies increased by 9 per cent (increase of 1.08mt) at 13.15mt during 2003-04 from 12.07mt during 2002-03. Exports grew a mere 2 per cent (increase of 0.07mt) at 2.89 mt in 2003-04 from 2.82mt in 2002-03. Domestic sales increased by 10 per cent (increase of 0.95mt) at 10.29mt in 2002-03 from 9.34mt in 2002-03.

Commenting on the growth in production of HR Steel, Moosa Raza, president, ISA said, "It's time we separated facts from fiction. Share of exports as a percentage to total sales was down to 13 per cent in 2003-04 from 14 per cent in 2003-04. Exports have grown only by 2 per cent during 2003-04 compared to 62 per cent in 2002-03."

Added Raza, " Allegations by various user groups regarding ISA member companies resorting to exports and creating artificial shortages in the domestic market are baseless. Domestic industry has always been a priority for us and ISA has never exported at the cost of the domestic industry."

Indian Steel Alliance (ISA) is an association of major Indian steel producers - Steel Authority of India Limited (SAIL), Tata Iron and Steel Company (TISCO), Essar Steel, Jindal Vijayanagar Steel Limited (JVSL) and Ispat Industries.

Business History Videos

History of hovercraft Part 3...

Today I shall talk a bit more about the military plans for ...

By Kiron Kasbekar | Presenter: Kiron Kasbekar

History of hovercraft Part 2...

In this episode of our history of hovercraft, we shall exam...

By Kiron Kasbekar | Presenter: Kiron Kasbekar

History of Hovercraft Part 1...

If you’ve been a James Bond movie fan, you may recall seein...

By Kiron Kasbekar | Presenter: Kiron Kasbekar

History of Trams in India | ...

The video I am presenting to you is based on a script writt...

By Aniket Gupta | Presenter: Sheetal Gaikwad

view more