Explanation:

As per World Steel Association data, India became the second largest steel producer of crude steel after China in 2018 and 2019, by replacing Japan. India’s crude steel production in 2018 was at 109.3 MT, an increase of 7.7 per cent from 101.5 MT in 2017. This moved up to 111.2 million tonnes in 2019. In contrast, China remains number one with 920 million tonnes of production in 2018 and 996.3 million tonnes in 2019. The United States and South Korea rank fourth and fifth respectively. World Steel Association is the international trade body for the iron and steel industry. It is a non-profit organisation with its headquarters in Brussels, Belgium. Steel being a deregulated sector, the Government does not set any annual targets for steel production. Decision on quantity of steel production is taken by individual companies based on commercial considerations and market requirements.