What Type of Industry is Iron and Steel?
By BYJU'S Exam Prep
Updated on: November 9th, 2023
Mineral-based industries are the type of Iron and Steel Industry. Primary industries that utilize mineral ores as their raw materials are regarded as mineral-based industries. The products that these industries manufacture feed other industries. In January 2019, India overtook Japan to become the second-largest steel manufacturer.
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Types of Iron and Steel Industry
Iron and steel are used as raw materials to produce many products, such as large machinery, construction materials, railway carts, and more. These industries are the index of modernity, and the evolution of the steel industry is connected with the growth of a country.
The iron and steel industry, a mineral-based industry, has a lot of significance for the Indian industrial market. Some of them are listed below.
- They are crucial to India’s research and development sector’s expansion.
- Like highways, railways, and waterways, they help the transportation industry.
- In the underdeveloped areas where they are located, the primary industries provide employment.
- This sector gives the industrial infrastructure a strong forward-backward link.
- The growth of the automobile industry is significantly influenced by the iron and steel industries.
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