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VOL VIII ISSUE 12 JUNE 2020
SAIL-ing Against the Pandemic Wind
Phew, what a phase the country is passing through. COVID-19 infections cross 1.65 lakh and counting. A super-cyclone ravaged West Bengal and another storm is racing towards the western coast. Last heard, marauding locusts were thronging towards Rajasthan and Maharashtra with Chhattisgarh on alert. Not to speak of the sustained lockdown that might force the Indian economy to contract 5% in FY21 as per Fitch Ratings. Despite infections rising, the government is grappling with a difficult proposition, of whether to lift the lockdown, or, to what extent? The inevitable question of livelihood over lives sticks its fuzzy neck out in a classic chicken-and-egg riddle.
However, steel behemoth Steel Authority of India (SAIL) is swimming against the tide. It is upbeat of a demand and price rebound and inventory liquidation postlockdown.
But, the pandemic, says SAIL Chairman Anil Kumar Chaudhary, will usher in long-standing industry changes. He tells a lot more in our Cover Story on pg.40.
Impact on pgs. 52 and 62 traces the COVID-19 and reverse migration upshot on steel MSMEs, construction, real estate and cement. Supply chain disruptions, liquidity concerns, labour availability are key challenges.
The government’s INR 20 lakh crore stimulus package created a stir but tranche IV reforms met with mixed reactions as Industry found out on pg. 06.
A report, on pg. 32 from The Foundation of Resource Convergence, spearheaded by former Steel Secretary Dr Aruna Sharma stresses on a holistic approach to policy-making. Starting with this issue, Industry will carry the report, whose contents can act as valuable inputs for the revised National Mineral Policy, in a three-part series.
Intervista, on pg.16, zeroes in on Electrosteel Steels CEO Pankaj Malhan’s thoughts on the COVID-19 impact on steel.
Plus, we focus on a lot more. Enjoy the read!
Find your answers in Steel 360's June edition
*Steel 360 is a monthly magazine for Iron and Steel industry professionals. Each issue comes up with an exclusive Cover Story and insightful articles from the Industry.