Indian steel industry review at FinGad.com

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Categorie: Emerging Markets
Submitted 5 months ago by

Deepyyy999 , Student

Riding on a booming economy and escalating demand, the domestic steel consumption has grown manifold in the last few years. The Indian steel industry has registered an average growth rate of more than 10% CAGR in output in the last five years. During the same period, steel consumption has also moved in perfect lockstep and has maintained a growth rate of 10%. Indian steel industry has entered into massive growth in steel demand as well as steel making capacities. The key growth drivers for the steel industry and the brief description of each driver are laid out below. Construction: The construction industry has been witnessing a growth rate of 12%-14% in recent times. Steel construction is now identified with speed and since India is in need of speedy project implementation, steel is the best alternative for fast track construction. With economy surging ahead and expected increase in income levels of population, it is believed that demand for steel from this sector will continue to grow at current rate... More...

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