Steel has contributed immensely towards India’s economic growth. Today, the steel industry contributes 2% to the GDP of the country. India surpassed Japan to become the world’s second largest steel producer. The National steel policy,2017 aspired to achieve 300 MT of steel making capacity by 2030-31. With Robust demand, competitive advantage, Policy support and increasing investment the Indian steel sector is expected to grow at a CAGR of 7% over the next ten years.
Read the analysis to know more about the growth opportunities, the government initiatives and the impact of COVID on this industry.
#vittarth #nibm #india #steel #industry #covid #growthdrivers