India a bright spot for global steel growth: BMI Research 09/06/2017

India a bright spot for global steel growth: BMI Research
09/06/2017

A report has said that India is seen as a bright spot for the global steel production growth on account of the government's push to augment capacity and demand from the construction, automotive and infra sectors.According to the report by BMI Research, a Fitch group company, the firms like SAIL and Tata Steel are expected to drive the steel output growth.Commenting on the issue, a BMI research Official told the media,
"The government has been spearheading the push towards the boost in steel production capacity, with upgrades being made to existing steel mills and state-owned companies stepping in to build new steel plants."
"India will be the global steel production growth bright spot as demand from the construction, automotive and infrastructure industries continues to accelerate," he added.
“India's steel output will grow from 88.4 million tonnes (MT) in 2017 to 128.6 MT by 2021,” he further added.
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