Vol. 1, Issue 2, Part C (2015)

Abstract
The Industrial revolution in England used in an era of unparalleled peace and Prosperity. Modern science boro fuit in an unprecedented technological development and industrial progress. This left countries like India, where Industrialization was still in its in fancy, feeling slightly dazzled and overwhelmed. The Public sector steel Industry entered a new phase in April 1973 with the formation of the holding company. The steel authority of India Limited (Sail). In 1978 sail was restructured and recognized as an operating company: with the result of the output and per capita consumption of steel have in crease during the cost four and a half decades considering the large size of the country and a sizable domestic, market its huge material base and the necessary infrastructure. Indian steel industry has great potential for rapid growth, with such presumption, industrial relation climate of a prestigious PE, Viz, Sail has been depicted in this paper with focus on IR Probability.