2.9 PRICING & DISTRIBUTION Price regulation of iron & steel was abolished on 16-01-1992. Distribution controls on iron& steel removed except 5 priority sectors, viz. Defense, Railways, Small Scale Industries Corporations, Exporters of Engineering Goods and North Eastern region. Allocation to priority sectors is made by Ministry of steel. Government has no control over prices of iron & steel. Open market prices are generally on rise. Price increases of late have taken place mostly in long products than flat products.
2.10 MAJOR STEEL AND RELATED COMPANIES The global steel industry has witnessed several revolutionary changes during the last century. The changes have been in the realms of both technology & business strategy. The ultimate object of all these changes is to remain competitive and open global market. The Indian steel industry is growing very rigorously with the major producers like SAIL, RINL, TISCO, JVL and many others. Our steel industry has amply demonstrated its ability of adopt to the changing scenario and to survive in the global market that is becoming increasingly competitive. This has been possible to a large extent due to the adoption of innovative operating practices and modern technologies. Industrial Development in India has reached a high degree of self-reliance, and the steel industry occupies a primary place in the strategy for future development. At present the production of steel industry country is 34mT. The public sector steel industry has been restructured to meet challenges and a separate fund has been established for modernization and future development of the industry. It is now being 33