The Iron and Steel Industry of India is one of the major and most significant industries of Indian economy. Again, the iron and steel industry of india has been of global importance, catering to a considerable percentage of global consumption, along with meeting the domestic requirements. Besides very informative and beneficial information about the iron and steel company registration in india, our other legal services for steel companies of india are also described briefly on this particular webpage.
For engagement at any stage of the supply-chain in the iron and steel industry, or as an integrated steel plant, the highly suitable types of companies could be a private limited company, a public limited company, or a small to medium scale enterprise (SME). The last section describes how to register a steel company in india as a private or public limited company, along with providing useful information about our other legal and supportive services for business establishment and growth of such a company in India. For registration procedure for a SME, other relevant webpage of this hugely popular legal website of India may be visited.
Our hugely popular and internationally famous full-service las firm of Delhi extends the complete range of legal and advisory services related with the Company and Commercial Laws, and other concerned legal Acts and Statutes, essentially including the Intellectual Property Laws. For past many years our brisk and secure services for online company registration as well as online trademark or brand registrations have become rather popular. Hence, apart from our services for company incorporation and business management and growth, the logos and trademarks of an iron and steel company may also be registered with support of our prestigious and reliable law firm of India. In general, the majority of the trademarks related with iron and steel industry are registered under the Class 6 of the Nice classification, and other coordinated classes.
The Iron and Steel Industry of India is a very significant economic sector, and a major contributor to the manufacturing output of the country. Presently, India is the third largest producer of steel in the world after China and Japan, along with being the largest producer of sponge iron in the world. Again, at present, India's share of total global steel production is around 5%, and it produces less than 100 million metric tonnes (MT) of steel every year. The new National Steel Policy 2017 of India (which was passed by the Union Cabinet in May 2017) aims to enhance the steel production capacity of India to 300 MT and the per capita steel consumption to 160 Kgs by 2030, along with making the steel industry of India at par with global standards. For past fifteen years, the growth rate of steel production in India has been around 7% per year. The NSP 2017 seeks to make this rate at least 7.3%, and render India as the second largest producer of steel in the world, leaving Japan behind. In 2014-15, production of finished steel in India was about 91.5 MT, marking a growth of 4.3% over the year 2013-14. While for Pig Iron this level was 9.7 MT, showing an annual growth rate of 22% over the year 2013-14. In 2017, production of steel in India was around 88.5 MT. The exports of iron and steel from India stood around 14.5 MT during April-February 2017-18; whereas that of imports to India was about 13 MT, during the period.
The Ministry of Steel is concerned exclusively with development, regulation, and growth of the iron and steel sector of India. And, the bulk of the public-sector undertakings market their steel through SAIL (The Steel Authority of India Limited). Again, the bulk of iron and steel in India is produced from Iron Ore. The steels plants of India may broadly be classified as the mini steel plants and the integrated steel plants, which are located across the country. As per the extant policy, iron and steel are freely importable and exportable, the basic excise duty for steel is 12.5%, there is no export duty on steel items, there is an export duty of 30% on high-quality iron ore, etc. It may also be stated that India has regularly been importing steel to meet its domestic demands; in year 2015-16, the domestic consumption of steel in India was about 81.5 MT, which is surely to become over 100 MT by the year 2018. Again, the constantly growing annual demand of global steel consumption at around 3% is highly expected to make steel exports from India growing steadily. During past years, the iron and steel sector of India, and many sectors associated with this, such as mining and metallurgy, witnessed considerable investments.
Regular rises in the domestic demand of iron and steel in India in near future are highly anticipated due to development and growth in various economic sectors such as construction and infrastructure, automotive, railways, and so on. Lastly, favorable factors like easy & cheap availability of raw materials such as iron ore, economical presence of qualified and well-skilled professionals and labor, Governmental supports and fillips, rising global demands of Indian steel, etc., are to boost production in the iron and steel industry in India in near future.
Depending upon your role in the supply chain, you may select a suitable company for engagement in the fast-paced Indian iron and steel sector. Based on your resources, circumstances, or priorities, you may opt for a mini steel plant, an integrated steel plant, or any company involved in between these two categories or beyond. Informed below is the procedure for company formation and registration of a private limited company or a public limited company, for such an engagement in India.
Apart from the incorporation of an iron and steel company in india, our mellowed and innovative lawyers also deliver the full-range of legal and supportive services for business establishment and maintenance, and also for the desired growth and profitability of the company. In this connection, the following are the most important tasks and processes:
Interested Indian or foreign industrialists or investors may promptly harness our superb and reasonably-charged advisory and legal services for registering the desired types of iron and steel companies in India, just through contacting over: +91-88001-00284; or sending their earnest queries or requests at: contact@Company-Registration.in
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