Why is iron and steel industry called a basic industry?
Iron and steel industry\xa0is\xa0called\xa0thebasic industry\xa0due to following reasons: All\xa0industries\xa0whether heavy, medium or light depend on it for the machinery. Thus, it provides base to the other\xa0industries.\xa0Steel\xa0is required for manufacturing variety of engineering, construction and defence goods.
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Iron and steel industry\xa0is\xa0called\xa0the\xa0basic industry\xa0due to following reasons: All\xa0industries\xa0whether heavy, medium or light depend on it for the machinery. Thus, it provides base to the other\xa0industries.\xa0Steel\xa0is required for manufacturing variety of engineering, construction and defence goods.
Iron and Steel industry is the basic pillar of modern industrial age. This industry is a ’ source of raw material for hundreds of other industries. Therefore, it is called as a basic industry. Industrial development cannot even be imagined without it. Therefore, it is also known as a pivot industry.