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Domestic steel sector forecast 10% CAGR
The Daily Guardian
|September 21, 2024
The domestic steel sector growth will outpace the country’s real GDP growth in the coming years, says a report by Anand Rathi.
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The growth in domestic steel will be driven by rapid urbanisation and an increase in public-private capital expenditure (capex). The sector is expected to grow at a compounded annual growth rate (CAGR) of 8-10 per cent from the financial year (FY) 2024 to FY30, surpassing GDP growth during this period.
By the financial year 2030, India is forecasted to produce 210-220 million metric tonnes of steel, while domestic consumption is expected to reach 190-210 million tonnes.
The report adds that the Indian steel industry has shown resilience despite the global headwinds affecting the commodity sector.
Bu hikaye The Daily Guardian dergisinin September 21, 2024 baskısından alınmıştır.
Binlerce özenle seçilmiş premium hikayeye ve 9.000'den fazla dergi ve gazeteye erişmek için Magzter GOLD'a abone olun.
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