Why Iron and Steel are considered …

Production and consumption of steel is regarded as the index of a country’s development because of the following reasons: 

• The production and consumption of iron and steel reflects the level of industrialisation and economic development of a country. 
• All the other industries depend on it for their machinery. It provides raw material for making industrial machinery, electrical machinery, defence equipments, bridges, dams, shops, houses, etc. 
• Vehicles carrying goods from one place to another are also made up of steel. It is because of these vehicles that our goods are transported from one place to another. 
• Steel is required to manufacture a variety of consumer goods, like bicycles, fans, furniture, tractors, etc. 
• It is the basic unit of economy. All buildings and infrastructures are constructed using iron and steel. 

Production and consumption of steel are often regarded as the index of a country's development as:

• The products of these enterprises are used as the raw material in different industries.
• For this reason it is called the feeder industry.
• Steel products are required for exports.
• Steel is used to create various machinery for ensuring country’s growth.