The landmark acquisition of Corus by Tata Steel has heralded a new era for the Indian steel industry which has matured from being an attractive investment destination to a global investor.Close on the heels of the Arcelor Mittal merger, in an ambitious bid, Tata Steel has acquired Anglo-Dutch conglomerate Corus Steel, which is four times bigger than its size at $13.2 bn and thus became the world's fifth largest steel company. For Asia's oldest steel giant, there couldn't have been a bigger leap as it became the India's first truly global company. This signaled a landmark milestone for India also, as its position has been catapulted from being an attractive investment destination to a global investor.

Of late, there is much ado about India's increasing role in global economy. Nearly after 60 years of independence, India is now taking on the world. Nevertheless, analysts opine that it's better late than never. Mergers and acquisitions have become the order of the day in almost all prime sectors and Indian Steel industry is no exception. Indian Steel, which was once written off as a graveyard sector, has of late been witnessing unprecedented economic boom sweeping across the country. According to The Analyst 500 ranking based on net sales figure, SAIL has led the pack by maintaining 7th position, followed by Tata Steel and JSW Steel with 18th and 39th rank respectively.

Besides this, government has done away with the ceilings on external trade, both in import and export. Import duty rates have been drastically trimmed down. Further, the industry has greatly benefitted from other policy measures, such as a slash in import duty of capital goods, convertibility of rupee on trade account, permission to mobilize resources from overseas financial markets and rationalization of existing tax structure.

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