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 Steel Authority of India Limited
February 3, 2009

Steel Authority of India Limited

A commemorative postage stamp on 50 years of Steel Authority of India Limited (SAIL), the largest Indian steel producer company :

Steel Authority of India (Hindustan Steel Limited)Issued by India

Issued on Feb 3, 2009

Issued for : India Post is proud to issue a Commemorative postage stamp on SAIL.

Credits :
& FDC : Kamleshwar Singh
Cancellation : Alka Sharma

Type : Stamp, Postal Used

Colour : Multi colour

Denomination : 500 Paise

Stamps Printed : 1.5 Million

Printing Process : Photogravure

Printer : India Security Press, Nasik

About : 

  • Our first Prime Minister Pt Jawaharlal Nehru referred to Public Sector Undertakings astemples of modern India, an analogy keeping their chosen role as propellers of industrial growth for a self-reliant India of the future. SAIL is one such temple, an enterprise whose contribution and commitment towards building the nation has been relentless and significant.
  • With the birth of a new nation in 1947, several dreams and aspirations of an Independent India had to be fulfilled. All of India shared the vision of a better tomorrow, a prosperous future echoing with sustainable growth. Rapid industrialisation was the need of the hour and the steel sector was seen as a harbinger of change.
  • To pursue the dream, Hindustan Steel Limited was set up in 1954 to manage the one million tonne-steel plant being set up at Rourkela. Similar steel plants coming up at Bhilai and Durgapur were brought under its ambit the next year. On 3rd and 4th February, 1959 the then President of IndiaDr. Rajendra Prasad, had dedicated the first blast furnaces of Rourkela and Bhilai Steel Plants to the nation. These events marked the beginning of steel plant operations in the public sector in independent India, thus laying the industrial base for the country as envisioned by Pt Nehru.
  • When Steel Authority of India Limited (SAIL) was incorporated by the Government in 1973 as a holding company of all steel and steel-related industries under its umbrella, all assets of Hindustan Steel Limited were transferred to it. The newly commissioned Bokaro Steel Plant, India‘s first ‘swadeshi‘ steel plant, became not only the newest member of the SAIL family but also the poster child of the firm resolve to build a self-reliant India. The juggernaut started rolling and India embarked on its journey through the corridors of prosperity with industrialisation as the flag-bearer.
  • Vast steel townships were carved out from barren land in the remote interiors of the country at Rourkela, Bhilai, Durgapur and Bokaro to provide accommodation for the steel workers and other communities. Entire cities were created, with schools, hospitals, power plants, shopping centers and sports stadia. Over the years, these became thriving centres of economic enterprise, supported by the ancillary requirements of the steel plants which continued to grow from strength to strength.
  • As the country’s largest steel producer, SAIL understood the responsibilities that came with it. Its vision to be a respected world class corporation and the leader in Indian steel business in quality, productivity, profitability and customer satisfaction has acted as a beacon, guiding the SAIL family to higher levels of achievement. With an eye on the future, SAIL went through a major modernisation drive at its Durgapur and Rourkela plants in the late 1980s. Value-additions were made at Bhilai and Bokaro to ensure that the heavy growth witnessed by other sectors remained unchecked.
  • Throughout our journey we have faced stiff challenges and experienced difficult business environments. In the 1990s we overcame two of our severest tests. Economic liberalisation in the early ’90s exposed us to global competition which required a massive reorganisation drive coupled with new business strategies to maintain our position of strength. It was our determination to convert challenges into opportunities that again enabled us to steer through the turbulent period of the late ’90s when a major slump hit the global steel industry. This time implementation of holistic marketing strategies, cost consciousness, pragmatic financial management and regular performance management reviews did the trick.
  • SAIL became stronger by overcoming adversities and championing sustainable development. Today, with a turnover in excess of Rs. 45,500 crore, SAIL is at the epicenter of the nation’s infrastructure development, including key sectors like defence, railways, oil & gas, construction, power, shipping and heavy engineering. In its capacity as India‘s steel market leader, SAIL is perpetually devoted to meeting every kind of steel demand amidst stiff challenges. India’s unprecedented growth over the last few years has precipitated a housing and construction boom and increase in big infrastructure projects. The upcoming Commonwealth Games is further propagating demand. As part of our efforts to meet the growing steel requirements of the country, a massive modernisation & expansion plan with emphasis on state-of-the-art green technologies is currently being implemented to propel SAIL’S hot metal production capacity to over 26 million tonnes by 2011 and 60 million tonnes by 2020.
  • SAIL’s initiatives underline our tenacity and usher a pleasant change for all. Being a responsible corporate citizen is one of them. In addition to contributing significantly to India‘s economic growth, SAIL has also helped to transform remote and underdeveloped areas around its steel plants, mines and other units into vibrant hubs of economic activity, thus touching millions of lives with prosperity.
  • SAIL was founded with well-articulated socio-economic objectives towards the people of India. A lot of work has been done to improve the quality of life in and around the plants and townships. SAIL has taken effective measures in the field of environment conservation, health and medical care, education, women’s upliftment, providing potable drinking water and ancillary development. By systematically addressing a gamut of issues at each of its plants and units, SAIL has contributed immensely to the economic development of its peripheral areas. By partnering creatively with small, local entrepreneurs, NGOs, state government and the Centre, SAIL has ensured that the benefits arising out of its activities actually reach the grassroots. SAIL is committed to linking business opportunity and corporate responsibility in ways that fulfill one of SAIL’S core purposes making a meaningful difference in people’s lives.
  • Text : Based on material supplied by the proponent.
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