Steel industry – dynamic, yet not without challenges

The steel industry in India has seen an exceptionally dynamic progress - with different governments in power came different goals for steel manufacturing. Apart from this, there were a number of other political and physical factors that hastened or slowed down steel production. Steel manufacturers face multiple challenges as regards generation of revenue and maintenance of healthy margins. This is because of multiple determining factors for this, including global competition, material price volatility and increasing customer demands amongst others.

Businesses in the steel industry have to comply with a long list of regulatory requirements regarding safety compliance, corporate and environmental responsibilities, and so on. Apart from compliance, there are huge governance mandates and risks that need proper and immediate mitigation that go hand-in-hand with regulatory compliance.

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