Thursday, October 21, 2010

Major hiring trends seen in Steel Sector 

The steel industry in India is witnessing a continuous growth. The production is increasing along with the price rise.

Economic Times reports that career opportunities are rising especially at the senior and executive level.

India is the second largest steel market in the world. China stands at the first place. Both public and private sector companies are coming up in our country. A job shift by the top level executives, directors and CEOs of the industry is has been witnessed recently. Some of them are Brahma Nand Singh, former CEO of Brahmani Steel; Raman Madhok, formerly joint managing director of JSW Steel; T P Rao, former executive director of Rashtriya Ispat Nigam and Bhairava Nath Singh, former MD of SAIL, Rourkela. 

There can be increased hiring too in the sector after a slump of 3 years. There can even be stock options for the existing employees.  

A lot of changes are seen in the steel industry. There is rise in demand as the exports from China have been reduced. According to the experts, the reduction in steel production in China can be attributed to the fact that the cost of electricity has risen there. Moreover many steel units have been shutdown due to pollution control measures there. 

This has benefited the steel makers here. Lowering down of the prices of raw materials and higher prices for the final product has increased the profit margins of the producers. These companies are flushing with money thus finding out ways to expand the production. All this has led to the rise in hiring trends here. There is great demand of the key talent and expertise in this sector.  

Source: Economic Times

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