Economic growth and industrial development, for any nation, goes perfectly in-sync with each other. In sharp contrast to all existing heavy industries in the country, India’s iron and steel industry dates back to the distant annals of history. As such, our nation’s long struggle against the imperialist power that spanned almost near to a couple of centuries is directly involved with the onset and the growth of this particular industry. Our country is natural hub of huge amount of varying metallic resources. Interestingly, the history of alloy being used in the society is traced back at a time, when man came to know about the usage of meteoric iron. This substance is a naturally occurring alloy of iron (Fe) and nickel (Ni). This natural alloy could be molded easily into different tools and weapons.
India has been a stunningly progressive country in unearthing, as well as applying knowledge on various aspects of metallurgy, since the historic times. Maintaining the sequence with a glorious past, the Indian Ferro Alloys Producers' Association (IFAPA) was set up in 1961. Since its inception, the organization has made enormous effort in streamlining the industry. The country is capable to produce 5.15 million tonnes of ferro alloys, including
- Ferro manganese
- Ferro silicon
- Ferro chrome and
- Ferro aluminum, etc.
The industry of ferro alloys India has the potential to turn the nation into the nerve center of the global ferro alloy industry. This industry is a major foreign currency earner for the country’s economy. The country is one of the significant exporters of ferro alloys to the world. Growth and development of this industrial sector caters to the progress of power generation. The industry of ferro alloys generates employment for both skilled and unskilled workforce in huge number.
However, the sector faces adversities in terms of
- i. Inadequate supply of raw materials
- ii. Excessive power tariff
Inverse duty on ferro vanadium that the government has imposed is also an unfavorable factor for the growth of this industry. Uniform tariff on electricity is a demand that the industry is advocating for years. In spite of these challenges, industry of ferro alloys in India is progressing at a steady pace.
Ferro alloys are produced by adding certain chemicals to the metals in their molten state. These are most commonly produced during making of steel. Ferro alloys, as such, are intricately related to the iron and steel industry.
The sector of ferro alloys India is trying its best to overcome all constraints in an exemplary method. As mentioned earlier, it is a major earner of foreign currency and occupies a significant position in the country’s export business. The industry has recorded a stunning 37.9% growth at U$ 1561.97million back in the year 2008-09. Economic stagnation that set in across the world right after that has dampened the spirit of growth, for the ferro alloy sectors in India. Importance of this industry as the backbone of the nation cannot be denied. Growth and escalation of this sector is crucial for the development of the nation.
Bilal Muktinathn is the author of this article. He has worked in the manufacturing field for more than four decades. He has written several journals on ferro alloys in india for the last few years. He has stated the change in the Ferro Alloys production with the increase in ferro alloys supplier india.
Tips to Use Ferro Alloys in India for Industrial Growth