Availability of raw material like iron ore, coal , limestone etc.
An efficient transportation and infrastructure facility for import and export of finished goods.
Availability of service sector , heavy funding is required and hence adequate availability of capital, Human capital for managerial roles
Demand for iron and steel or the market has to be there. Growing infrastructure sector , construction sector help to set up the iron and steel industry.
Government policies and regulations should be conducive for the setting up of iron and steel industries. Land acquisition and ease of doing business should be a complex free task. Law and order shall be maintained, Unambiguous taxation policies.