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24 May, 2006Government, industry and trade union officials meet in New Delhi to discuss the future of the steel industry.
INDIA: The International Metalworkers' Federation met with representatives of economies accounting for over 95% of world crude steel production to emphasize the need to consider the human costs to steel consolidation and globalisation.
The meeting was held on May 16-17, in India, a country where the steel industry is growing, providing direct and indirect employment to over 2 million people. It is the 8th largest steel-producing nation in the world with crude steel production of 35 million tones in 2004-2005.
The global steel industry is in the midst of massive consolidation. Most recently, Mittal Steel announced its $27 billion offer to acquire rival Arcelor SA. Mittal is the world's largest steel producer, with an annual production capacity of around 70 million tonnes. Arcelor follows in second place with an annual shipment capacity of around 47 million tonnes.
The IMF challenged recommendations proposed by the OECD regarding international steel production. IMF director for steel, Rob Johnston, charged the group with failing to take into account employment relationships, and argued that governments and employers must consider workers' rights when mapping out a future for steel globalisation.
"We respect the work the OECD has taken in producing this paper, but I'm disappointed that they failed to identify the human cost that globalisation has had on employment. Today, the IMF delivered a strong message to government and employers alike that more should be done to stabilise employment and promote workers' rights."
The meeting was held on May 16-17, in India, a country where the steel industry is growing, providing direct and indirect employment to over 2 million people. It is the 8th largest steel-producing nation in the world with crude steel production of 35 million tones in 2004-2005.
The global steel industry is in the midst of massive consolidation. Most recently, Mittal Steel announced its $27 billion offer to acquire rival Arcelor SA. Mittal is the world's largest steel producer, with an annual production capacity of around 70 million tonnes. Arcelor follows in second place with an annual shipment capacity of around 47 million tonnes.
The IMF challenged recommendations proposed by the OECD regarding international steel production. IMF director for steel, Rob Johnston, charged the group with failing to take into account employment relationships, and argued that governments and employers must consider workers' rights when mapping out a future for steel globalisation.
"We respect the work the OECD has taken in producing this paper, but I'm disappointed that they failed to identify the human cost that globalisation has had on employment. Today, the IMF delivered a strong message to government and employers alike that more should be done to stabilise employment and promote workers' rights."