India’s total finished steel consumption in the financial year 2020-2021 was recorded at 96.2 million tonnes (mn t). This is expected to reach about 160 mn t by FY’25 and about 250 mn t by FY’31, said Indian steel minister Ram Chandra Prasad Singh while attending a meeting with the consultative committee of the members of Parliament in Kevadiya, Gujarat.
In India, the construction and infrastructure sectors are the major consumers of steel and these will continuously be the drivers of increased consumption of steel, the minister said.
Emphasising on the government’s efforts, he said it is keen to enhance production capacity domestically and is making efforts to increase domestic demand and usage too.
He said that the recently announced GatiShakti Master Plan will complement the INR 100 lakh crore investment plan for infrastructure development over the next five years. This will further give boost to the steel usage in the country.
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