Indian steel minister said India's steel consumption this year may exceed the US
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- JUNNAN STEEL NEWS
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- Gloria Wong
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- Feb 15,2019
Summary
Indian steel minister Chaudhary Birender Singh said on Tuesday that India’s steel consumption this year is expected to outpace the United States.
Indian steel minister Chaudhary Birender Singh said onTuesday that India’s steel consumption this year is expected to outpace theUnited States. Singh said on behalf of the Steel Ministry atthe 4th India Steel Summit (INDIA STEEL 2019), “Due to strong manufacturing,diversified demand, accelerated infrastructure spending, expected GDP growthand “Made in India” Strong concern that India's steel consumption will continueto grow." Singh said that India's steel consumption this year may exceedthe United States. He also pointed out that the budget for infrastructureconstruction this fiscal year is about 6 trillion rupees. “Considering the above-mentioned favorablefactors and the huge potential of the infrastructure to be developed, it isnatural for India to increase the per capita crude steel consumption at thecurrent level,” he added.
Binoy Kumar, secretary general of the Indian steel ministry,said that India’s 2017 national steel industry policy and domestic steelpriority procurement policy have saved India more than Rs.