The Indian steel industry is often considered the barometer of economic progress, because of the critical role played by it in the infrastructural and overall industrial development of a country. Currently, the Indian steel industry is the second largest steel producer in the world, contributes approximately 2.5 per cent to the GDP and employs 2.5 million people, directly and indirectly. The output effect of steel on the Indian economy is approx. 1.4 times, with an employment multiplier of 6.8 times.
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