New Delhi: India’s steel production would have to grow by 7 to 8% to produce more than 100 million tonnes to make the sector globally competitive, according to the Boston Consulting Group (BCG).
“India plans to achieve global competitiveness in terms of quality, product mix, efficiency and productivity. This will require indigenous production of more than 100 MT per year by 2019-20, up from 38 MT in 2004-05,” director BCG Sachin Nandgaonkar said.
He said the national steel policy envisages that India would produce 120 MT of steel in the coming years. “Towards this end, India will need to increase its productivity substantially. India is currently among the top ten steel producers in the world,” he said.