• Wednesday, August 10, 2022

Business

India’s Steel Demand Expected to Return to Higher Growth Track: worldsteel

It is forecasted that global steel demand will grow by 1.4 per cent to reach 1,681.2 million tonnes in 2019.(Photo: SAM PANTHAKY/AFP/Getty Images).

By: Radhakrishna N S

As India recovers from the twin shocks of demonetisation and the goods and services tax (GST) implementation, India’s steel demand is expected to move back to a higher growth track, said World Steel Association (worldsteel) on Tuesday (16). “Steel demand will be supported by improving investment and infrastructure programs. Stressed government finances and corporate debt weighs on the outlook,” it added. In the developed economies, growth in the construction sector is likely to moderate after the strong recovery momentum seen in 2017-18 due to a high base and rising interest rates. On the other hand, construction activities in most developing…

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