Icra Revises Domestic Steel Sector Growth Estimate to 10%

18 Sep 2023 CW Team

In a notable development, the Indian credit rating agency, Icra, has revised its growth estimates for the domestic steel sector, projecting a robust growth rate of 10%. This upward revision reflects the sector's resilience and recovery from previous challenges.

The revised estimate underscores the steel industry's critical role in India's infrastructure and construction sectors, which are witnessing increased demand due to various government initiatives and economic recovery. This positive outlook is driven by factors such as strong demand from sectors like real estate, automotive, and infrastructure, coupled with enhanced operational efficiencies within the steel manufacturing companies.

Icra's revision also aligns with India's ambitious infrastructure plans, including the development of smart cities, modernisation of railways, and expansion of highways, which require substantial quantities of steel. Additionally, the government's push for 'Make in India' and 'Atmanirbhar Bharat' initiatives has boosted domestic steel production.

In conclusion, Icra's optimistic revision of the growth estimate to 10% signals a positive trajectory for the domestic steel sector, suggesting increased economic activity and a robust industrial landscape in India. This bodes well for stakeholders and investors in the steel industry.

Real Estate

26 Jun 2026

AGM Vijaylaxmi launches Sixty3 W.E. Bizpark

AGM Vijaylaxmi Group has launched Sixty3 W.E. Bizpark, a mixed-use commercial development in Goregaon East, Mumbai. The project includes contemporary office spaces and a high-street retail component designed to support businesses, retailers and professionals.Located along the Western Express Highway, Sixty3 W.E. Bizpark is planned as a G+25-storey commercial tower. It offers office spaces ranging from 545 sq ft to 3,200 sq ft, with a 3.60 metre floor-to-floor height aimed at improving spatial comfort, natural light and operational efficiency.The project features a high-street retail boulevard ..

Manglam Group to Develop Sheraton Hotel in Jaipur

Manglam Group has signed an agreement with Marriott International to develop a Sheraton hotel on the Jaipur–Ajmer Highway in Jaipur. The project will feature 220 keys and is being developed with an investment of around Rs 3.5 billion across more than 300,000 sq ft.The hotel marks Manglam Group’s third collaboration with Marriott International and forms part of its Rs 10 billion hospitality investment roadmap. The agreement was signed by Amrita Gupta, Director, Manglam Group and CEO, Manglam Spa and Resorts, and Rajeev Menon, President, Asia Pacific excluding Greater China, Marriott Interna..

India Warehousing Show 2026 opens at YashoBhoomi

India's warehousing, logistics, and supply chain ecosystem came together as the 15th edition of India Warehousing Show (IWS) 2026 opened at YashoBhoomi, India International Convention & Expo Centre (IICC), Dwarka, New Delhi on June 25 (Thursday). Organised by RX India, the three-day event will run from 25-27 June 2026, bringing together policymakers, industry leaders, technology providers, and supply chain professionals under one roof. It also features a two-day knowledge conference that will run alongside the exhibition. Inaugurated by Pankaj Kumar, Joint Secretary - Logistics, DPIIT..