‘India’s steel consumption to grow 7-8% on govt spending’4 min read 21 May 2023, 10:23 PM IST
Demand growth of 13.3% in India (FY23) was very good. We see demand being driven by government spending on infrastructure and also pickup in private capex with improving capacity utilisation.
India’s steel consumption is bucking the global trend and is estimated to grow 7-8% on rising government spending and signs of a resurgence in private sector investments, said Jayant Acharya, joint managing director and chief executive of JSW Steel. The impact on steel demand since China’s reopening is lower than expected, but India’s demand remain robust, underpinning solid profitability, buoyed by subdued energy costs and lower inflation, that will keep manufacturing costs in check. Edited excerpts from an interview:
Select your Category