Consider the following statements regarding the “steel sector in India”:1. India is the 2nd largest producer of crude steel in the world after United States of America.2. India is the second largest consumer of steel in the world.Which of the statements given above is/are correct?

[A] 1 only

[B] 2 only

[C] Both 1 and 2

[D] Neither 1 nor 2

Answer: B

Notes:

India is the second-largest producer of crude steel only after China. India is also the second largest consumer of steel.

However, its per capita total finished steel consumption was around 74.7 kg during FY20 as against the global average of 229 kg.
Further, the capacity utilization in crude steel plants continues to be low.

Source: Economic Survey 2020 – 2021