The Indian steel industry has entered into a new development stage post-deregulation, riding high on the resurgent economy and rising demand for steel. Today, as the second largest crude steel producer globally and with a capacity of over 140 million tonnes, the Indian steel industry has come a long way. The new policy projects crude steel capacity of 300 million tonnes (MT), production of 255 MT, and seeks to increase per capita steel consumption to 160 kgs by 2030 from the current level of around 60 kg and major segments of consumptions are infrastructure, automobiles and housing sectors.
To encourage domestic steel manufacturing, the government has announced a policy for providing preference to domestically manufactured iron and steel products in government procurement. Indian steel companies such as Shyam Steel feel more confident than ever, to be in the business, and achieve the goal of making India Aatmanirbhar – the government’s vision of meeting the entire demand of high-grade TMT through its domestic production.
Shyam Steel was founded with a single-minded emphasis on quality over profitability. In that pursuit, they built one of India’s first private sector integrated steel plants, where steel is manufactured directly from iron ore. It is among the few companies to invest in the most upgraded and advanced international technology of electric arc furnace. Its dedicated pursuit of the latest technology and intensive in-house R&D over the years has made the company one of the most cost-efficient steel producers in India. Besides ISO 9001 & 14001, OHSAS: 18001 (for safety and environment policy principles), the company has also been certified as meeting the requirements for being the “Best Quality TMT Bar Manufacturer.”
No wonder that its TMT is used in hundreds of projects of national importance, including landmarks such as Hyderabad and Bengaluru international airports, Delhi and Kolkata metros, Guwahati Games Village, Haldia Petrochem and Panipat elevated expressway. Shyam Steel also offers the same high quality TMT to thousands of individual home builders at a very affordable price. As Govind Beriwal says, “We can change our furniture, tiles or paint after building a home, but we can never change the steel and cement we have used. Hence, it is imperative to use the right materials to build our home.”
Almost all companies focus on the strength of steel. But research has shown that during natural disasters like earthquakes, it’s the flexibility of a TMT bar that protects the home. Strength and flexibility are inversely proportional as an increase in strength reduces flexibility. However, Shyam Steel has crafted TMT bars that have the perfect balance between strength and flexibility to better withstand natural disasters such as earthquakes. “To communicate this to our consumers, through our brand ambassadors Virat Kohli and Anushka Sharma, we show that home, like a relationship, needs to be both flexible and strong to be long-lasting,” says Beriwal.
It has diversified its existing product portfolio. “Beside our flagship TMT bars, we also offer composite bricks and a wide range of structural steel products to make residential gates and grills,” says Govind Beriwal. The company is also set to launch a range of waterproofing solutions to be used at the time of construction, to ensure that a home can prevent damp for decades. Not only that, the company has also moved beyond steel, into infrastructure development, power transmission, IT solutions and agro processing.
To the company, its 5000+ strong employee pool, along with its channel partners, are part of one big Shyam Steel family – and it is committed to stand beside them in any crisis. During the height of the pandemic, when immediate availability of doctors was a big challenge, Shyam Steel put in place a team of reputed doctors who provided 24x7 tele-consultation to every employee and channel partner, free of cost.
No wonder Shyam Steel continues to move from strength to strength and is today synonymous with superlative quality TMT with both the largest infrastructure builder and the smallest home builder across India.