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Posts published in “Business”

India’s steelmakers are the covid-ravaged economy’s rare bright spot

STEELMAKERS HAVE for decades embodied India’s failed plans for prosperity. Post-independence socialism produced many mills but little steel. A partial privatisation in the 1990s created capacity, but also large firms fed by feckless state-backed lending. Many were subsequently exposed as bankrupt. Even well-run private producers stumbled, as Tata Steel did with its disastrous acquisition in…