Steel production in India forecast to double by 2031

NEW DELHI - India's steel production, which stood at 101.3 million metric tonnes (MMT) in 2016-17, is expected to grow by 10-12% in 2017-18 and to more than double to 240 million tonnes (MT) by 2031, according to Sanak Mishra, Secretary-General of the Indian Steel Association.

Mishra says India is likely to surpass Japan to become the second-largest producer of steel in the world, on the back of increased capacity to fulfil the increasing demand.

The Government of India has also earmarked increased spending on infrastructure and construction sectors in 2017-18. These two sectors are the largest consumers of steel. (ATI).