Steel Demand in India Surges, Growth Revised Upwards
Steel

Steel Demand in India Surges, Growth Revised Upwards

India's steel sector is experiencing a remarkable surge in demand, with a notable 11.3% increase reported. This surge has prompted ICRA, a leading credit rating agency, to revise its growth target for FY2025 to a promising 9-10%. The robust growth in steel demand indicates a strengthening of various sectors of the economy, particularly infrastructure, construction, and manufacturing.

Several factors contribute to this surge in steel demand. The government's focus on infrastructure development, including initiatives like the National Infrastructure Pipeline (NIP) and ambitious projects like the Bharatmala Pariyojana, drives the demand for steel products. Additionally, the recovery of the real estate sector post-pandemic and increased investments in urban and rural infrastructure further fuel this demand.

This upward trajectory in steel demand bodes well for the Indian economy. The steel industry plays a crucial role in the country's economic growth, contributing significantly to employment generation and GDP expansion. Furthermore, a thriving steel sector boosts ancillary industries, such as mining, transportation, and machinery manufacturing.

ICRA's decision to revise the growth target reflects the optimism surrounding India's economic recovery. The steel sector's resilience amidst challenges like supply chain disruptions and fluctuating raw material prices underscores its importance as a key driver of economic growth.

To sustain this growth momentum, stakeholders must focus on enhancing production capacities, adopting advanced technologies, and ensuring a conducive policy environment. Continued investments in infrastructure, coupled with reforms to streamline regulatory processes and improve ease of doing business, will further strengthen India's position as a global steel hub.

In conclusion, India's steel industry's remarkable growth underscores its pivotal role in driving economic development. With favourable market conditions and strategic interventions, the sector is poised for sustained growth, contributing to India's journey towards becoming a $5 trillion economy.

India's steel sector is experiencing a remarkable surge in demand, with a notable 11.3% increase reported. This surge has prompted ICRA, a leading credit rating agency, to revise its growth target for FY2025 to a promising 9-10%. The robust growth in steel demand indicates a strengthening of various sectors of the economy, particularly infrastructure, construction, and manufacturing. Several factors contribute to this surge in steel demand. The government's focus on infrastructure development, including initiatives like the National Infrastructure Pipeline (NIP) and ambitious projects like the Bharatmala Pariyojana, drives the demand for steel products. Additionally, the recovery of the real estate sector post-pandemic and increased investments in urban and rural infrastructure further fuel this demand. This upward trajectory in steel demand bodes well for the Indian economy. The steel industry plays a crucial role in the country's economic growth, contributing significantly to employment generation and GDP expansion. Furthermore, a thriving steel sector boosts ancillary industries, such as mining, transportation, and machinery manufacturing. ICRA's decision to revise the growth target reflects the optimism surrounding India's economic recovery. The steel sector's resilience amidst challenges like supply chain disruptions and fluctuating raw material prices underscores its importance as a key driver of economic growth. To sustain this growth momentum, stakeholders must focus on enhancing production capacities, adopting advanced technologies, and ensuring a conducive policy environment. Continued investments in infrastructure, coupled with reforms to streamline regulatory processes and improve ease of doing business, will further strengthen India's position as a global steel hub. In conclusion, India's steel industry's remarkable growth underscores its pivotal role in driving economic development. With favourable market conditions and strategic interventions, the sector is poised for sustained growth, contributing to India's journey towards becoming a $5 trillion economy.

Next Story
Resources

Ajmera Realty launches tree drive on Environment Day

Ajmera Realty & Infra India marked World Environment Day with a large-scale tree plantation initiative—Plant-with-Purpose—across its projects in Mumbai and Bangalore. The drive was inaugurated at Ajmera Manhattan and Ajmera Greenfinity in Wadala, with senior company officials and residents in attendance. The campaign encourages residents to embrace eco-conscious, self-reliant lifestyles by growing useful plants and trees within their communities. Horticulture expert Devendra Bhekar guided residents on creating and maintaining green spaces. Ajmera Realty planted over 500 trees..

Next Story
Resources

Twaron®-reinforced tyre powers Brunel’s solar race car

Teijin Aramid’s Twaron® with circular content will debut in Bridgestone’s race tyres for the 2025 Bridgestone World Solar Challenge, supporting the Brunel Solar Team’s Nuna 13 car. This marks the first use of the recycled-content aramid in a high-performance race tyre. The Twaron®-reinforced belts help enhance durability, reduce rolling resistance, and maintain lightweight strength—critical for the 3,000-km solar race across Australia. Bridgestone combines this with ENLITENTM tech and other recycled inputs to maximise environmental and performance outcomes. Teijin Aramid, a..

Next Story
Building Material

Kamdhenu Paints launches new wood coating range

Kamdhenu Paints has launched a comprehensive premium wood coating range designed for both interior and exterior applications. The collection includes high-performance solutions like Kamwood 2K PU for a rich matt or high-gloss finish, Kamwood 1K PU for clarity and stain protection, and the Kamwood Melamyne system for a smooth, durable finish. Also featured are Kamwood Wood Stains, which enhance wood grains with vibrant colour, and NC Sanding Sealer for high-build grain filling. The range is supported by Kamwood Thinners for ease of application and optimal finish. Saurabh Agarwal, MD, ..

Advertisement

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Advertisement

Talk to us?