Steel cartel of india in the name of nationalism

[Ryzen_renoir]

While global steel prices have been steady or falling in the last 12 months , india has witnessed an aggregate of 55% rise over the same period , as acknowledged by NDA's own cabinet minister . 

Steel cartel of india :

india has only three major steel producers TATA Steel , JSW and SAIL . Rest of the steel producers were absorbed into them one way or another due to NPA crisis. since there is no other competition they can price whatever they want .

Tata Steel and Jindals(although in Congress)  are extremely close to modi and have even sponsored many charted flights for various BJP leaders . 

Heavy curbs on imports in the guise of nationalism :

India has placed severe curbs on all kids of steel imports as a temporary measure and every importer must get manual permission from a dedicated body  .

Indian companies used this an opportunity to raise prices instead of improving efficiencies or innovation . 

india has been denying foreign steel makers to set up plants because they will dominate the inefficient and  outdated companies . POSCO has been trying to set up a plant for almost a decade with no headway . 

The biggest joke is that not a single party wants to raise this issue because they don't want to face the wrath of bania's and BJP . India is being reduced to the laughing stock of the world with these ridiculous policies that promote outdated companies at the cost of public

[Joker_007]

6 hours ago, Ryzen_renoir said:

The biggest joke is that not a single party wants to raise this issue because they don't want to face the wrath of bania's and BJP . India is being reduced to the laughing stock of the world with these ridiculous policies that promote outdated companies at the cost of public

Thokkemi kaadu..... content unte evadaina thope... 

[narsy]

good post.