As one of the strongest players in the Indian metals market, Ushdev International Limited has seen the evolving of the Indian market in the segment. No wonder, UIL today stands to gain in a market that has weathered stiff competition in the global market place and still emerged as the 4^th largest producer of crude steel in the world in 2010 as against the eighth position in 2003. UIL is today contributing as an active player in India's expectation to become the second largest trader of crude steel in the world by 2015.

UIL stands as a significant player today in a mature market like India where metal industry in general has done reasonably well, led by strong demand for autos and engineering services in the domestic market and also in the export market. Even the Moody's sectoral analysis on Asian steel admits that the outlook for the domestic operative environment is positive, driven byrobust growth in infrastructure, autos and construction.

Needless to add, UIL is standing on firm footing both in terms of company's internal financial strength as well as market forecast in India with its export potential. Though the Indian exports are quite vulnerable to domestic demand conditions, the export market has been doing reasonably well in the past few years.

By all analysis the investors of UIL are set to gain for their trust in the company and its core business of metal. The company is growing at a phenomenal pace in the metal business and overall market indications are all very positive in India. Observers are optimistic that activity in steel consuming sectors like consumerdurable goods, automobile and industry machinery are growing at the rate of double digit, while activity in the construction sector (which is the single largest consumer of all steel products) is also expected to grow by phenomenal pace in the next few years.

The recession in the global economy and the turnaround in the metal space by India and China is a clear indicator of the fact that the importance of China and India to the world steel industry can not be overlooked. The Indian steel industry has weathered the storm with a great zeal and focus. In 2010, recovery in steel demand was far from consistent across the globe and steelmakers had to strive to manage their working capital as a result of fluctuating demand.

While most of the global steel industry continued to feel pressure from the recessionary trends, steel demand and associated production in the BRICK (Brazil, Russia, India, China and Korea) regions continued to be a key driver in growth. Brazil and South Korea recovered strongly from the economic crisis and are expected to register higher steel production in the medium term.

However, the world during this period realized that the future belongs to India and China as far as growth in crude steel production is concerned. These two countries are engines of growth in the metal business since both the countries' domestic steel demand not only survived the economic slowdown, but they also grew at a significant rate. As a consequence, China has become the virtual engine of the global steel industry, accounting for 45% of production in 2010.

UIL takes pride of the fact that the medium to long term prospects for the Indian iron and steel exports looks very promising :-

• India has the inherent potential to capitalize, like its advantage as a supplier of galvanized products.

• With cheap availability of inputs (raw material & man power) Indian exporters have immense opportunities.

• With various incentive schemes Indian steel makers are all set to contribute a substantial share of India's GDP growth.

• Indian exporters have other emerging markets ready to be tapped.