2 April, 2008Trade unions commit to seeking better development outcomes for the people of India as a result of the forecasted growth of the Indian steel industry.
INDIA: Trade unions participating in the IMF meeting on the Indian steel industry in Kolkata from March 24 to 27 agreed on developing a strategy to ensure that the forecasted growth of the Indian steel industry results in better development outcomes for the people of India.
A report released by the IMF at the meeting on March 24, argues that trade unions have a significant role to play in ensuring that the expected growth of the Indian steel industry benefits working people.
The IMF Indian Steel Report provides an overview of the global and Indian steel market and points to the significant increase in foreign investment and the rapid expansion taking place in the steel industry in India today.
The report also shows that of organised metalworkers in India, much of the existing membership is employed in the steel industry. The report states that this strong base should be used to ensure that as the steel industry grows and the number of transnationals corporations participating in the market increases, the lives of steel workers and their communities are improved.
Participants at the meeting also resolved to develop an IMF steel policy to tackle issues such as climate change and the environment, and that the IMF needs to engage with other organisations such as the OECD and the ILO on developments in the Indian steel industry.
A copy of the IMF Indian Steel Report is published in English on the IMF website.