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Indian iron and Steel Association: it is estimated that India's steel demand will grow to 100 million tons in 2021

2021-04-07   

Arnab Hazra, Deputy Secretary General of ISA, recently said that India's steel demand will rebound strongly in 2021 and is expected to grow by about 22% to about 100 million tons.

 

Arnab Hazra, also an economist, said that India's economy will recover strongly in 2021, and the demand for steel for construction machinery, mining equipment and motor products will rise significantly.

 

In the field of construction (including infrastructure and real estate) in India, the demand for steel accounts for about 62% of the country's total demand. It is expected that the momentum will be stronger this year. The Indian government is also strengthening its investment in infrastructure construction.

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In 2020, India's economy was deeply influenced by COVID-19. At present, there has been an obvious recovery in many areas including construction, automobile and household appliances.


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