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Consider the following statements regarding Steel Industry in India:
1. Green Steel refers to steel that is produced using renewable energy sources.
2. India is the 2nd largest producer of crude steel after China.
3. The National Steel Policy 2017 allows 100% Foreign Direct Investment (FDI) in the steel sector through automatic route.
Which of the statements given above are correct?
1. Green Steel refers to steel that is produced using renewable energy sources.
2. India is the 2nd largest producer of crude steel after China.
3. The National Steel Policy 2017 allows 100% Foreign Direct Investment (FDI) in the steel sector through automatic route.
Which of the statements given above are correct?
- a)1 and 2 only
- b)2 and 3only
- c)1 and 3 only
- d)1, 2 and 3
Correct answer is option 'D'. Can you explain this answer?
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Most Upvoted Answer
Consider the following statements regarding Steel Industry in India:1....
Steel Production in India Production and Consumption:
- India is currently the world's 2nd largest producer of crude steel (as of 2021) and also the 2nd largest consumer of finished steel in 2021 (preceded in both cases by China). Hence, statement 2 is correct.
- Important Steel-Producing Centers in India: Bhilai (Chhattisgarh), Durgapur (West Bengal), Burnpur (West Bengal), Jamshedpur (Jharkhand), Rourkela (Odisha) and Bokaro (Jharkhand).
- Export: India is a significant exporter of steel products, with major export destinations including the US, the UAE, and Nepal.
- Government Policies: The Government has taken various steps to boost the sector including the introduction of National Steel Policy 2017 and allowing 100 per cent Foreign Direct Investment (FDI) in the steel sector under the automatic route. Hence, statement 3 is correct.
- Green Steel: The Ministry of Steel seeks to reduce CO2 in steel industry through promotion of Green Steel (manufacturing steel without using fossil fuels). Hence, statement 1 is correct.
This can be done by using low-carbon energy sources such as hydrogen, coal gasification, or electricity instead of the traditional carbon-intensive manufacturing route of coal-fired plants. It eventually lowers GHG emissions, cuts cost and improves the quality of steel.
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Community Answer
Consider the following statements regarding Steel Industry in India:1....
Green Steel:
- Green Steel refers to steel that is produced using renewable energy sources, such as solar or wind power, as opposed to traditional methods that rely heavily on fossil fuels.
- By using renewable energy sources, Green Steel production aims to reduce carbon emissions and minimize environmental impact.
India's Steel Industry:
- India is indeed the 2nd largest producer of crude steel globally, following China.
- The country's steel industry plays a crucial role in its economy, contributing significantly to infrastructure development and industrial growth.
National Steel Policy 2017:
- The National Steel Policy 2017 is a government initiative aimed at promoting the growth of the steel sector in India.
- Under this policy, 100% Foreign Direct Investment (FDI) is allowed in the steel sector through the automatic route, facilitating foreign investments and technology transfers.
Therefore, all three statements provided in the question are correct. Green Steel production, India's position as the 2nd largest producer of crude steel, and the FDI allowance in the steel sector under the National Steel Policy 2017 are key aspects of the steel industry in India.
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Consider the following statements regarding Steel Industry in India:1. Green Steel refers to steel that is produced using renewable energy sources.2. India is the 2nd largest producer of crude steel after China.3. The National Steel Policy 2017 allows 100% Foreign Direct Investment (FDI) in the steel sectorthrough automatic route.Which of the statements given above are correct?a)1 and 2 onlyb)2 and 3onlyc)1 and 3 onlyd)1, 2 and 3Correct answer is option 'D'. Can you explain this answer?
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Consider the following statements regarding Steel Industry in India:1. Green Steel refers to steel that is produced using renewable energy sources.2. India is the 2nd largest producer of crude steel after China.3. The National Steel Policy 2017 allows 100% Foreign Direct Investment (FDI) in the steel sectorthrough automatic route.Which of the statements given above are correct?a)1 and 2 onlyb)2 and 3onlyc)1 and 3 onlyd)1, 2 and 3Correct answer is option 'D'. Can you explain this answer? for UPSC 2024 is part of UPSC preparation. The Question and answers have been prepared according to the UPSC exam syllabus. Information about Consider the following statements regarding Steel Industry in India:1. Green Steel refers to steel that is produced using renewable energy sources.2. India is the 2nd largest producer of crude steel after China.3. The National Steel Policy 2017 allows 100% Foreign Direct Investment (FDI) in the steel sectorthrough automatic route.Which of the statements given above are correct?a)1 and 2 onlyb)2 and 3onlyc)1 and 3 onlyd)1, 2 and 3Correct answer is option 'D'. Can you explain this answer? covers all topics & solutions for UPSC 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for Consider the following statements regarding Steel Industry in India:1. Green Steel refers to steel that is produced using renewable energy sources.2. India is the 2nd largest producer of crude steel after China.3. The National Steel Policy 2017 allows 100% Foreign Direct Investment (FDI) in the steel sectorthrough automatic route.Which of the statements given above are correct?a)1 and 2 onlyb)2 and 3onlyc)1 and 3 onlyd)1, 2 and 3Correct answer is option 'D'. Can you explain this answer?.
Consider the following statements regarding Steel Industry in India:1. Green Steel refers to steel that is produced using renewable energy sources.2. India is the 2nd largest producer of crude steel after China.3. The National Steel Policy 2017 allows 100% Foreign Direct Investment (FDI) in the steel sectorthrough automatic route.Which of the statements given above are correct?a)1 and 2 onlyb)2 and 3onlyc)1 and 3 onlyd)1, 2 and 3Correct answer is option 'D'. Can you explain this answer? for UPSC 2024 is part of UPSC preparation. The Question and answers have been prepared according to the UPSC exam syllabus. Information about Consider the following statements regarding Steel Industry in India:1. Green Steel refers to steel that is produced using renewable energy sources.2. India is the 2nd largest producer of crude steel after China.3. The National Steel Policy 2017 allows 100% Foreign Direct Investment (FDI) in the steel sectorthrough automatic route.Which of the statements given above are correct?a)1 and 2 onlyb)2 and 3onlyc)1 and 3 onlyd)1, 2 and 3Correct answer is option 'D'. Can you explain this answer? covers all topics & solutions for UPSC 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for Consider the following statements regarding Steel Industry in India:1. Green Steel refers to steel that is produced using renewable energy sources.2. India is the 2nd largest producer of crude steel after China.3. The National Steel Policy 2017 allows 100% Foreign Direct Investment (FDI) in the steel sectorthrough automatic route.Which of the statements given above are correct?a)1 and 2 onlyb)2 and 3onlyc)1 and 3 onlyd)1, 2 and 3Correct answer is option 'D'. Can you explain this answer?.
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