Twenty First Century, a leading player in the mining sector, providing value solutions for Mild Steel, Alloy Steel, and Stainless Steel, is all geared up to contribute to the Indian Government’s ‘Make in India’ policy by setting up steel plants to cater to the automotive and defence sector. Twenty First Century, has integrated steel units widely spread over the western region of India with captive Iron Ore Mines in Karnataka.
The Indian auto industry is one of the largest in the world with an annual production of 23.37 million vehicles in FY 2014-15 following a growth of 8.68 percent over the last year. The automotive industry accounts for 45% of the country’s manufacturing gross domestic products (GDP), 7.1% of the country’s GDP and employs about 19 million people both directly and indirectly. “India being the seventh largest producer in the world with an average annual production of 23.36 million vehicles, of which 3.57 million are exported”, said Mr Gaurav Goel, Managing Director, Twenty First Century Group. Growing working population and expanding middle-class are expected to remain key demand drivers.
“Prime Minister’s ‘Make in India’ policy has gained immense traction in the defence manufacturing sector. With 100 percent liberalisation in private sector previously, a recent announcement incorporates 49 percent in FDI as well”, quoted Gaurav Goel. Throwing light on the unmet need in the defence sector, Goel further added, “Defence industry is a subset of a nation’s concern to ramp up manufacturing capability in terms of value addition, self-reliance in critical technology and policy initiatives so far, impacts the possible need and synergy between “Make in India” policy and the sector.”
According to Mr Goel, Twenty First Century believes there is a lot of potential in initiating steel plant setups, as a part of “Make in India” programme, because India is the world’s third-largest producer of crude steel and is expected to be the second largest producer by 2016. The growth in the Indian Steel has been driven by domestic availability of raw materials such as iron ore and cost-effective labour. The steel sector has been a major contributor to India’s manufacturing output with production capacity of the country expanded from about 75 Million Tonnes Per Annum in 2009-10. The capacity has increased to 90.5 Million Tonnes in 2014-15. The sector contributes nearly two percent of the gross domestic product (GDP) and employs over 600,000 people. Considering India’s mushrooming popularity as the preferred manufacturing destination for investors globally, Twenty First Century has been in constant touch with Japanese Delegates, as an effort to harness this demand and boost the Indian economy.
About Twenty First Century:
Twenty First Century Wire Rods Limited was started as a private limited company by Mr. Vinod Goel in 1996. With his vision and ability to foresee business trends, today Twenty First Century Wire Rods Limited is one amongst few players in India to have an integrated iron and steel units with its own captive iron ore mines in Karnataka. The company has been engaged in the manufacturing of varied iron and steel products for more than 15 years, and over the years has accumulated a strong knowledge of the industry. It caters to varied users, by providing a single stop shop for the customers with requirement of different kinds of products.
For more information, please visit: http://www.twentyfirstcentury.co/about_us.html
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