A strong groundwork for manufacturing, a mixture of private and public sector investment, and an ever-increasing industrial demand has seen the steel sector in India generate tremendous interest, with no signs of slowing down.
The steel sector has welcomed gracious public policy support. Local production of steel has been heavily promoted via the National Steel Policy 2017 by the Government Of India, where there are ambitious plans to ensure that India maintains its status as one of the world’s top steel producers. This has propelled a series of projects and investments for new and existing market entrants.
With an imminent year-on-year boost provided to the infrastructure sector, the Indian steel industry has opened multiple new avenues for companies looking to set up steel manufacturing plants or engage in steel-related trade in India.
From a market standpoint, the potential of the steel manufacturing in India can be highlighted via the following statistics:
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