Page 24 - CONSTRUCTION VISION July August 2017 issue

INDIA 'BRIGHT SPOT' FOR GLOBAL STEEL OUTPUT GROWTH

ndia is seen as a "bright spot" for the made to existing steel mills and state-owned For instance, according to the World Bureau
global steel production growth on companies stepping in to build new steel of Metal Statistics, in 2016, India's steel
Iaccount of the government's push to plants," it said. output grew by 7.4 per cent y-o-y.
augment capacity and demand from the "India will be the global steel production
"We forecast India's steel output to average
construction, automotive and infra sectors, growth bright spot as demand from the
annual growth of 8.9 per cent during 2017-
says a report. construction, automotive and infrastructure
2021, higher than 2.9 per cent during 2012-
industries continues to accelerate," it added.
2016," the report said.
The firms like SAIL and Tata Steel are
expected to drive the steel output growth, Key companies, it said, that will drive growth
India's steel output will grow from 88.4
according to the report by BMI Research, a are Steel Authority of India Ltd (SAIL) and
million tonnes (MT) in 2017 to 128.6 MT by
Fitch group company. Tata Steel.
2021, it added.
The latter which aims to boost sales in the
"The government has been spearheading
automotive segment with the migration of The country's share of global steel
the push towards the boost in steel
production towards higher-end steel production will accelerate from 5.4 per cent
production capacity, with upgrades being
products. in 2017 to 7.7 per cent in 2021, it added.
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