Trade Analytics
Steel
India is expected to become the second-largest steel producer in the world by 2016.

Growth of Steel Industry - Infographic

Latest update: November, 2015

Steel demand has outpaced supply over the last five years

  • In FY15, the consumption of finished steel grew to 76.99 MT while the CAGR increased to 5.74 per cent during FY08-15
  • Driven by rising infrastructure development and growing demand for automotives, steel consumption is expected to reach 104 MT by 2017
  • It is expected that consumption per capita would increase supported by rapid growth in the industrial sector, and rising infra expenditure projects in railways, roads & highways, etc.
  • For FY15, per capita consumption of steel in India was 60 kg against the world average of 222 kg
Growth

Demand supply gap resulting in increased imports

  • With growth in demand for steel outpacing growth in domestic production over the last few years, imports have increased
  • India was a net importer of steel till FY13, but turned a net exporter of the same in FY14. In 2015, India imported 9.32 MT of steel while exports declined to 5.59 MT in FY15 from 5.98 MT during 2013-14
  • During FY11-15, import of steel grew at a compounded annual rate of 9.01 per cent, whereas, exports increased at a CAGR of 11.32 percent
  • Total domestic demand for steel is estimated at 113.3 MTPA by 2016-17
Growth

 

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India is tyhe world's largest producer of crude steel, and is currently doubling its production capacity.

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