Why is production and consumption of steel considered as an index of a country’s development?

Why is production and consumption of steel considered as an index of a country’s development?

Ans.
(i) The steel products are used as a raw material in different industries.
(ii) It is required for export.
(iii) It provides machinery for ensuring country’s growth.
(iv) Any other relevant point.
(Any one point)
Unit Geography, Ch – Manufacturing Industries