The Production Analysis of Iron and Steel Industry in India: Impact of Economic Liberalization of 1991

Iron and Steel Industry has always remained a major part in Manufacturing Sector in Indian Economy from very past dating back to Nineteenth Century. Economic Liberalisation of 1991 brought change in structure of not only the market but also in various production frontiers. The 1991–92 trade reforms concentrated on three things- removal of quantitative restrictions, lowering and rationalising of tariffs and changing the emphasis of the export incentive system. I aim to calculate output elasticities with respect to input and check which input is the major contributor to the production process for Pre and Post Liberalisation Periods and thus make a thorough analysis on inputs used in the industry.