Steeling The Show
Steel

Steeling The Show

The per-capita consumption of steel in India has increased from 56 kg to 68 kg in the past decade. This progression reflects the ~7 per cent growth in steel demand in the last couple of years, according to Vikram Amin, Executive Director (Sales & Marketing), Essar Steel.

As India moves towards a consumption-based economy, the demand for steel is bound to grow, says Amin. The big question: At what rate might the steel industry grow?

Well, domestic steel consumption is expected to grow by 7 per cent during FY 2020, largely driven by the Government’s focus on the infrastructure sector, according to an ICRA report.

Saying 7 per cent is a conservative estimate, Alakesh Roy, Managing Director, Zamil Steel, says growth is more likely to touch 12 per cent on the back of expansion in factory orders and infrastructure spending. “Industrial demand, which was dormant for quite some preceding months, is now picking up and spurring capacity expansions in factories,” he avers. “Zamil Steel India is geared up to take up these anticipated growth avenues; it has augmented its production and service capacity to 100,000 mtpa.”

As demand for steel normally grows at 1.5x the GDP growth of the country, Amin believes 7-8 per cent growth in the next couple of years is fair to assume. He expects the infrastructure, railways, construction, auto, earthmoving equipment and energy sectors to generate decent demand for steel, while defence is also an emerging major demand driver.

“We project 7 to 10 per cent growth in the consumption of steel in the years to come,” says Nikhil Bothra, Director, Epack Polymers.
“If GDP grows at 7 per cent, the pre-engineered steel building industry should see double-digit growth,” says S Krishnakumar, Chief Executive-Building Solutions, Everest Industries, calling steel the new boom in construction.

“We are optimistic about growth, but to be conservative we agree with ICRA’s projection,” says Idris Rajkotwala, Executive Director, United Access Floors. “We are expecting 8-9 per cent growth.”
“We’re not bullish in our outlook for the first six months of this year,” says Amod Barve, CEO, Volta Green Structures. “Demand for steel in India will see moderate growth because the country isn’t isolated from global events such as the slowdown in China, the trade war between US and China, the looming Brexit, and the impact of general elections internally. However, things will improve after September.” 

- CHARU BAHRI

The per-capita consumption of steel in India has increased from 56 kg to 68 kg in the past decade. This progression reflects the ~7 per cent growth in steel demand in the last couple of years, according to Vikram Amin, Executive Director (Sales & Marketing), Essar Steel.As India moves towards a consumption-based economy, the demand for steel is bound to grow, says Amin. The big question: At what rate might the steel industry grow?Well, domestic steel consumption is expected to grow by 7 per cent during FY 2020, largely driven by the Government’s focus on the infrastructure sector, according to an ICRA report.Saying 7 per cent is a conservative estimate, Alakesh Roy, Managing Director, Zamil Steel, says growth is more likely to touch 12 per cent on the back of expansion in factory orders and infrastructure spending. “Industrial demand, which was dormant for quite some preceding months, is now picking up and spurring capacity expansions in factories,” he avers. “Zamil Steel India is geared up to take up these anticipated growth avenues; it has augmented its production and service capacity to 100,000 mtpa.”As demand for steel normally grows at 1.5x the GDP growth of the country, Amin believes 7-8 per cent growth in the next couple of years is fair to assume. He expects the infrastructure, railways, construction, auto, earthmoving equipment and energy sectors to generate decent demand for steel, while defence is also an emerging major demand driver.“We project 7 to 10 per cent growth in the consumption of steel in the years to come,” says Nikhil Bothra, Director, Epack Polymers. “If GDP grows at 7 per cent, the pre-engineered steel building industry should see double-digit growth,” says S Krishnakumar, Chief Executive-Building Solutions, Everest Industries, calling steel the new boom in construction.“We are optimistic about growth, but to be conservative we agree with ICRA’s projection,” says Idris Rajkotwala, Executive Director, United Access Floors. “We are expecting 8-9 per cent growth.”“We’re not bullish in our outlook for the first six months of this year,” says Amod Barve, CEO, Volta Green Structures. “Demand for steel in India will see moderate growth because the country isn’t isolated from global events such as the slowdown in China, the trade war between US and China, the looming Brexit, and the impact of general elections internally. However, things will improve after September.” - CHARU BAHRI

Next Story
Infrastructure Urban

DCPC Prepares for Special Campaign 5.0 with Focus on E-Waste

The Department of Chemicals and Petrochemicals (DCPC), Ministry of Chemicals and Fertilisers, is gearing up for Special Campaign 5.0, to be held from 2nd to 31st October 2025. The initiative will focus on e-waste disposal as per MoEFCC’s E-Waste Management Rules 2022, space optimisation, and enhancing workplace efficiency across field offices.Special Campaign 4.0, conducted between October 2023 and October 2024, delivered notable results in record management, grievance redressal, scrap disposal, and cleanliness drives.Key outcomes of Special Campaign 4.0Records management: 2,443 physical fil..

Next Story
Real Estate

BlackRock India Leases 1.4 Lakh Sq Ft in Bengaluru

BlackRock Services India, the domestic arm of global asset manager BlackRock, has leased 1.4 lakh sq ft of office space at IndiQube Symphony in Bengaluru, according to Propstack data. The 10-year deal is valued at around Rs 4.10 billion.The lease, among the largest transactions in India’s co-working sector, highlights the growing preference of global institutions for flexible office providers. The agreement, commencing October 1, 2025, covers ground plus five floors in KNG Tower 1 at Ashoknagar, MG Road — one of Bengaluru’s prime commercial hubs.As per the lease document, BlackRock will ..

Next Story
Infrastructure Transport

L&T Bags Rs 25–50 Bn Order for Mumbai-Ahmedabad Bullet Train Track Works

Larsen & Toubro’s (L&T) Transportation Infrastructure business has secured an order valued between Rs 25 crore and Rs 50 billion from the National High Speed Rail Corporation Limited (NHSRCL) for the Mumbai-Ahmedabad High Speed Rail (MAHSR) corridor.The contract, Package T1, involves the design, supply, construction, testing, and commissioning of 156 route km of high-speed ballastless track on a Design-Build Lump Sum Price basis. The stretch runs from Mumbai’s Bandra-Kurla Complex to Zaroli village in Gujarat and includes 21 km of underground track and 135 km of elevated viaduct.Se..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Talk to us?