Why Steel Industry is important
Steel plays an important role not only in the construction industry but also have a vital part in society as a whole. The products and the construction itself of Steel prove to be sustainable development towards the society. The indirect benefit which it generates is the rate of employment that leads to economic well-being within the society because the steel construction is increasing day by day that result into economic welfare of general population. Consequently, zealous steel industries trigger the employment, export earnings, tax revenues and novelty in this field.
Steel is an important part of overall economy as somewhere it encourages the reduction in wastage and reworking with resources that promotes the recycling and gives better and healthy outlook towards the future. Along with economic benefit, steel also provide the protective layer at the time of natural calamity such as earthquake, storm and floods as the catastrophes are reduced by steel products. Steel have a strong historical foundation at Global platform and serving the various industry from last 100 years. The major chunk of steel usage is composed of energy, construction, automotive and transportation, infrastructure, packaging and machinery. Being employed into vast range of services, there is no doubt that Steel named the second biggest industry after oil and gas.
With these important features and contribution, it is extremely evident that Steel is integral part that is must for societal development from the societal and economic point of view.
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