Global Competitiveness in the Steel Industry
Paroma Mitra Mukherjee1 and Dilip Roy2
1Durgapur Institute of Management and Science, SKS GROUP, under WBUT, Bidhan Nagar, Durgapur-713212, West Bengal, India
To examine the present status and future prospects of an industry one needs to examine the degree of competition, either globally or locally. Present work is an attempt to measure the extent of global competition in steel sector, a basic ingredient for developing economic infrastructure for a nation. Based on the global competition, time series analysis has been carried out to indicate the past trend and future direction. The position of India has also been indicated along with those of a few leading nations. In that context, importance of labour cost, availability of raw materials, cost of energy consumed etc. has been highlighted to gain competitive advantage.
Keywords: Global Competition, Crude Steel Production, Market Share, Labour Cost, Energy Cost, Availability of Raw Materials