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Indian steel -- a pampered infant who must grow up

Modi should cut sector aid, liberalize trade and focus support on job-creating industries

| India

Despite the long-standing global glut in steel, Indian producers are relentlessly expanding capacity as if they live in a different world.

Which, in a sense they do. After decades of protection, subsidies and preferential treatment that has insulated Indian steel from international competition, the industry has grown in the bubble of a large and expanding domestic market to which access for foreign rivals is heavily restricted.

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