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  • January 4, 2022

Raw Material Suppliers In The US

The raw material suppliers have been the backbone of this sector and have been empowering SMEs for decades now. Raw material suppliers are spread across an array of commodities like steel, polymers, inks, paints, pharma, etc. 

With major investment plans by the raw materials suppliers, the Indian SME segment is bound to grow to create a bigger impact on the economy. You can get more information about raw materials via https://www.rawtechtrade.com/.

 

Steel and polymer are two of the major commodities that are consumed by SMEs. According to an IBEF report on the steel industry, crude steel is one of the major commodities India produces and is the third-largest producer in the world. 

Crude steel capacity was recorded at over 109 Million Tonnes in 2014-15, a growth of about 7.4 percent. With this sector on a boom, due to an increase in investments by the suppliers. 

Along with the suppliers, the government has also been focusing on the expansion of this sector. The Ministry of Steel has plans of investing in steel plants of the steel authority of India Limited (SAIL) and Rashtriya Ispat Nigam Limited (RINL), the two major steel suppliers, focusing on enhancing their crude steel production capacity.

Plastics is another commodity that has been amplifying the growth of the SME segment. This sector has been making a significant impact on various sectors like Automotive, Construction, Electronics, and Healthcare, etc. This sector is also got a boost with an increase in investments by the plastics suppliers.