Pioneer Today Team
Top 10 Steel Companies in India 2024, The steel found in India became a major opportunity for entrepreneurs to get into the business. Government sectors were also interested in this industry, along with several other private businessmen. The first to be traced in the Indian steel industry is the setting up of the Tata Iron & Steel Company (TISCO) in Bihar in 1907. Later, many steel plants contributed to India’s steel industry. The Indian Steel Industry goes way back to the early 1600s. Today, there is a huge demand for steel in different sectors like construction, railways, automobiles, consumer durables, and others.
The steel found in India became a major opportunity for entrepreneurs to get into the business. Government sectors were also interested in this industry, along with several other private businessmen. The first to be traced in the Indian steel industry is the setting up of the Tata Iron & Steel Company (TISCO) in Bihar in 1907. Later, many steel plants contributed to India’s steel industry.
Table of Contents
1. Tata Steel Limited
Tata Steel was Asia’s first steel company, established in 1907. Although the company is based in Jamshedpur, Jharkhand, its headquarters is in Mumbai. Tata Steel Limited, formerly known as Tata Iron and Steel Company Limited (TISCO), is known for providing the best steel in India.
With an annual crude steel capacity of more than 30 million tonnes per annum, Tata Steel ranks as the largest producer in Europe. The company reduced its competition in the market by acquiring Bhushan Steel Limited in 2018-19 and also acquired Usha Martin Ltd.
| Attribute | Details |
|---|---|
| Company Name | Tata Steel Limited |
| Headquarters | Mumbai, Maharashtra |
| Founders | Jamsetji Tata |
| Founded | 1907 |
| Parent Organization | Tata Group |
| Number of Employees | 32,364 (2021) |
| Annual Crude Steel Capacity | 30 million tonnes per annum |
| Notable Acquisitions | Bhushan Steel Limited, Usha Martin Ltd |
| Website | tatasteel.com |
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2. JSW Steel Limited
JSW Group is the parent organization of JSW Steel and is one of the largest steel manufacturing companies in India. JSW Steel Limited has significant operations in both India and international markets, boasting the largest steel plant in India. The company has steel plants in states like Karnataka, Tamil Nadu, and Maharashtra.
| Attribute | Details |
|---|---|
| Company Name | JSW Steel Limited |
| Headquarters | Mumbai, Maharashtra |
| Founders | Sajjan Jindal |
| Founded | 1982 |
| Parent Organization | JSW Group |
| Number of Employees | 13,128 (2021) |
| Annual Production Capacity | 18 million tonnes |
| Website | jsw.in |
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3. Steel Authority of India Limited (SAIL)
Steel Authority of India Limited (SAIL) is a government-owned steel manufacturing company. Despite competition from the private sector, SAIL remains one of the top government steel companies in India. SAIL is involved in both iron and steel manufacturing, with several plants located in the eastern and central regions of the country.
| Attribute | Details |
|---|---|
| Company Name | Steel Authority of India Limited |
| Headquarters | New Delhi |
| Founders | Ministry of Steel, Government of India |
| Founded | 1973 |
| Number of Employees | 59,350 (1 March 2023) |
| Annual Crude Steel Capacity | 21 million tonnes |
| Website | sail.co.in |
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4. Essar Steel India Limited
Essar Steel India Limited, founded in 1998, has become one of the leading steel manufacturing companies in India. Known for high-quality steel products, Essar Steel supplies various industry segments, including the auto industry, power plants, and the hydrocarbon industry.
| Attribute | Details |
|---|---|
| Company Name | Essar Steel India Limited |
| Headquarters | Mumbai, Maharashtra |
| Founders | The Essar Group (Shashi Ruia and Ravi Ruia) |
| Founded | 1998 |
| Parent Organization | Essar Group |
| Number of Employees | 5,741 |
| Annual Production Capacity | 10 million tonnes |
| Website | essar.com |
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5. Jindal Steel & Power Limited
Jindal Steel & Power Limited is not only a steel manufacturer but also a renowned power-generating company. The company has significant international operations and reported around 2.3 million tonnes of sales in a quarter, with an annual record of 7.63 million tonnes of sales in FY22.
| Attribute | Details |
|---|---|
| Company Name | Jindal Steel & Power Limited |
| Headquarters | New Delhi |
| Founders | O.P. Jindal |
| Founded | 1979 |
| Parent Organization | O.P. Jindal Group |
| Number of Employees | 21,000 (2022) |
| Annual Sales | 7.63 million tonnes (FY22) |
| Website | jindalsteelpower.com |
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6. Rashtriya Ispat Nigam Limited (RINL)
Rashtriya Ispat Nigam Limited (RINL), also known as Vizag Steel, is a government-owned public sector undertaking. Established in 1982, RINL operates a modern and environmentally friendly steel plant with an annual production capacity of over 6.3 million metric tons of steel.
| Attribute | Details |
|---|---|
| Company Name | Rashtriya Ispat Nigam Limited |
| Headquarters | Visakhapatnam, Andhra Pradesh |
| Founders | Ministry of Steel, Government of India |
| Founded | 1982 |
| Parent Organization | Visakhapatnam Steel Plant (VSP) |
| Number of Employees | 14,729 (March 2023) |
| Annual Production Capacity | 6.3 million metric tons |
| Website | vizagsteel.com |
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7. National Mineral Development Corporation (NMDC)
National Mineral Development Corporation (NMDC) is a government-owned iron and steel manufacturing company. NMDC is one of the largest iron ore producers in India, involved in the exploration, mining, and processing of various minerals. NMDC has been given the status of the public sector under Schedule A.
| Attribute | Details |
|---|---|
| Company Name | National Mineral Development Corporation |
| Headquarters | Hyderabad, Telangana |
| Founders | Government of India |
| Founded | 1958 |
| Number of Employees | 5,887 (March 2019) |
| Annual Iron Ore Production Capacity | 35 million tonnes |
| Website | nmdc.co.in |
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8. VISA Steel
VISA Steel Limited is a well-known Indian company in the steel and ferrochrome manufacturing sector. Established in 1996, VISA Steel has manufacturing plants with a production capacity of more than a million metric tons per year.
| Attribute | Details |
|---|---|
| Company Name | VISA Steel |
| Headquarters | Kolkata |
| Founders | Saroj Kumar Poddar |
| Founded | 1996 |
| Parent Organization | VISA Group |
| Number of Employees | 387 (2023) |
| Annual Production Capacity | 1 million metric tons |
| Website | visasteel.com |
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9. MESCO Steel
Founded in 1992, MESCO Steel has grown to become one of the leading steel companies in India. With two steel plants and generating more than a thousand tons of hot metal per day, MESCO is known for having the lowest-debt equity ratio among most steel companies in the country.
| Attribute | Details |
|---|---|
| Company Name | MESCO Steel |
| Headquarters | Khurunti, Odisha |
| Founders | Rita Singh |
| Founded | 1992 |
| Number of Employees | NA |
| Daily Production Capacity | 1,000 tons of hot metal |
| Website | mescosteel.com |
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10. Electrotherm India Limited
Electrotherm Limited, established in 1983, is a pioneering company in the Indian steel industry. Known for its innovative practices and contributions, Electrotherm manufactures ET TMT BARS and Ductile Iron pipes, making it a prominent name in the steel sector.
| Attribute | Details |
|---|---|
| Company Name | Electrotherm Limited |
| Headquarters | Ahmedabad |
| Founders | Mukesh Bhandari |
| Founded | 1983 |
| Number of Employees | 5,500 |
| Key Products | ET TMT BARS, Ductile Iron pipes |
| Website | electrotherm.com |
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FAQs about Top 10 Steel Companies in India
Q: Which is the biggest steel company in India?
A: SAIL (Steel Authority of India Limited) is the largest steel manufacturing company in India.
Q: Who is the world’s largest steel producer?
A: China’s Baowu Group became the world’s largest steel producer with 115 million metric tons of steel in 2020.
Q: How many steel plants are there in India?
A: There are 650 mini steel plants in India.
Q: What are the major challenges faced by the steel industry in India?
A: Major challenges faced by the steel industry in India include fluctuating raw material prices, global competition, infrastructure constraints, and environmental regulations. Additionally, the industry must address issues related to energy efficiency and technological advancements to remain competitive on the global stage.
Q: What is the role of the government in developing the steel industry in India?
A: The government plays a crucial role in developing the steel industry in India by providing policy support, infrastructure development, access to resources, and promoting investments. It also focuses on ensuring a conducive business environment, implementing trade policies, and supporting research and development initiatives to enhance the industry’s competitiveness.
Q: What is the future of the steel industry in India?
A: The future of the steel industry in India looks promising, with continued growth and strong demand expected in various sectors, including infrastructure, construction, and manufacturing. The government’s focus on boosting manufacturing and investing in key projects bodes well for the steel sector’s expansion and contribution to India’s economic development.
Q: Which is the best steel company in India?
A: Tata Steel is considered the best steel company in India, known for being the largest producer and one of the lowest-cost steel producers globally.
Q: Which are the top steel manufacturing companies in India?
A: The top steel manufacturing companies in India include Tata Steel Limited, JSW Steel Limited, Steel Authority of India Limited (SAIL), Jindal Steel & Power Limited, and Rashtriya Ispat Nigam Limited (RINL).
Q: Which is the No. 1 steel company in India?
A: Tata Steel Ltd. holds the top spot for India’s largest steel producer.
Q: Which is the No. 2 steel company in India?
A: The number two position is closely contested. Steel Authority of India Limited (SAIL) is a strong contender, but rankings can vary depending on the source. It’s advisable to check for recent industry reports.
Q: What are the top 5 steel manufacturing companies in India?
A: The top 5 contenders, though the order might differ slightly depending on the source, are:
- Tata Steel Ltd.
- Steel Authority of India Limited (SAIL)
- JSW Steel
- Rashtriya Ispat Nigam Limited (RINL)
- Visa Steel Ltd.
Q: Which is the best iron company in India?
A: Since steel uses iron ore as a primary raw material, the top steel companies listed above are also major iron producers. It’s challenging to pinpoint a single “best” iron company as the criteria can vary. However, all the companies mentioned are leaders in the Indian steel industry.
Conclusion
The aforementioned list comprises the top 10 steel manufacturing companies in India, which continue to experience growing demand regardless of market fluctuations. According to the World Steel Association, India’s total crude steel production for the year 2022 stood at an impressive 125.3 million tonnes (MT). The steel manufacturing industry continues to play a pivotal role in India’s economic development, solidifying its position as a key contributor to the nation’s progress.
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