Posted on 13 May 2024
India's Steel Secretary Nagendra Nath Sinha projected a robust growth rate of 10% in domestic steel demand over the forthcoming years, buoyed by the government's infrastructure focus.
Sinha emphasized the government's commitment to infrastructure development as a catalyst for the steel demand surge. Noting a 13-14% year-on-year demand uptick in the fiscal year 2023-24, he affirmed the trajectory's continuity. Official data revealed a surge in crude steel production to 145 million tons and consumption to 136 million tons in the 2023-24 fiscal year, evidencing the sector's buoyancy.
Source:Yieh
