Why is Iron and Steel Industry called a basic industry?

Asked by sumitd39 | 15th Jan, 2022, 07:52: PM

Expert Answer:

Iron and steel industry is called the basic industry due to following reasons:

  1. All industries whether heavy, medium or light depend on it for the machinery. Thus, it provides base to the other industries.
  2. Steel is required for manufacturing variety of engineering, construction and defence goods. Verious ship building industries, aircrafts, transport equipments etc require steel which is a finished product of the irona dn steel industry.
  3. Day to day consumer goods like containers, safety pins etc. are made up of steel.

Answered by Shiwani Sawant | 16th Jan, 2022, 07:23: PM

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