Domestic Steel Demand To Grow By 6% In 5 Years


Domestic steel demand is expected to grow by 6-6.5 per cent in the next five years, but the target reaching 300 tonne steel capacity by 2030 under NSP seems unlikely.

The rating agency said that the consumption of the alloy has grown at a steady pace of 6 per cent, during the last decade (2006-07 to 2016-17).

Commenting on the issue, a Crisil Official told the media, "Over the next five years, steel demand is expected to register 6-6.5 per cent growth driven by various government led initiatives in affordable housing and infrastructure sector, coupled with robust growth in automotive and capital goods segments."

"A similar trajectory of growth in expected to continue even in long run, subject to continuation of government's initiatives. Also, NSP is expected to encourage in-house production of flat and alloy steel products, reducing their share in overall imports".


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Suhani Verma

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