Exports of Iron and Steel from India in Post-WTO Regime

The fourth most common element in Earth's crust is Iron which has been in use now for about 6000 years. The Indian iron and steel industry plays a crucial role in industrial development of a nation owing to its strong linkage effect. Increasing demand in sectors like infrastructure, automobiles etc have put forward India's steel industry on world map. The Tata Iron and Steel was the first integrated steel plant set up in 1907. The Indian steel sector enjoys advantages of domestic availability of raw materials and cheap labour. The present research paper has tried to analyze the position of India and level of diversification of exports of iron and steel from India using entropy index during the period 1996–97 to 2014–15. Besides this, some main problems, constraints and government steps that have been taken by government from time to time and their effect on the Indian economy have been analyzed.