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Steel demand is heavily influenced by economic growth because of its extensive application across various industries. India's growing infrastructure has demonstrated a strong appetite for steel, which is essential for the nation's development. India's steel consumption reached 136 million metric tonnes in the fiscal year 2024, an impressive increase of 13.6%. This growth is backed by a robust expansion in infrastructure projects and a significant uptick in finished steel production, which climbed by 12.7% to 139 million tonnes. India's growing reliance on steel is highlighted by this upward trend, which is being driven by government initiatives, urbanisation, and accelerating industrialisation. Steel is becoming increasingly important to India's economy as a result of the country's aggressive development plans and expanding demand from a variety of industries. This is demonstrated by the constant increase in the country's steel consumption. #ShyamMetalics

Steel Production and Consumption Forecast in India: 2024-2034   India is set to embark on an unprecedented journey of growth in the steel industry over the next decade. With rapid urbanization, infrastructure development, and industrial expansion, the future of steel production and consumption in India looks incredibly promising. Here’s a glimpse of what to expect in the coming years.   Steel Production Surge: India’s steel production is projected to witness a significant surge, with estimates suggesting an increase from approximately 120 million tons in 2024 to over 180 million tons by 2034. This robust growth is driven by government initiatives like the National Steel Policy, aiming to make India self-sufficient in steel production and a global manufacturing hub.   Rising Consumption: Parallel to production, steel consumption in India is expected to grow exponentially. The per capita steel consumption, currently at around 74 kg, is anticipated to rise to 160 kg by 2034. This increase is attributed to extensive infrastructure projects, urban housing schemes, and the automotive industry’s expansion.   Key Drivers: 1. Infrastructure Boom: Massive investments in smart cities, highways, and railways. 2. Industrial Growth: Expansion in manufacturing sectors like automotive, appliances, and machinery. 3. Government Policies: Supportive policies fostering growth and investment in steel production.   Market Opportunities: 1. Sustainability Focus: Emphasis on green steel production and recycling. 2. Technological Advancements: Adoption of modern technologies in steel manufacturing. 3. Export Potential: Leveraging global demand with competitive pricing and quality.   Join the Conversation: What are your thoughts on India's steel industry's growth trajectory? Share your insights and let's discuss the future of steel in India.   #SteelIndustry #IndiaGrowth #SteelProduction #Infrastructure #SustainableDevelopment #Manufacturing #EconomicGrowth #LinkedInInsights #InfinityERP #CODEPLAYERS

India's growing steel appetite reflects a thriving economy and increased development. It's a sign of progress in infrastructure, transportation, and manufacturing. This rise in steel demand reflects India's strong economic momentum, with growth expected to surpass 6%. Industries like automotive and consumer durables are also contributing to the steel boom. Here's a breakdown of what's driving this growth: ✨𝐈𝐧𝐟𝐫𝐚𝐬𝐭𝐫𝐮𝐜𝐭𝐮𝐫𝐞 𝐁𝐨𝐨𝐦: Government spending on infrastructure projects is creating a huge demand for steel. ✨𝐑𝐚𝐢𝐥𝐰𝐚𝐲 𝐑𝐞𝐯𝐨𝐥𝐮𝐭𝐢𝐨𝐧: India's railway network is undergoing a major expansion, requiring significant amounts of steel. ✨𝐂𝐚𝐩𝐢𝐭𝐚𝐥 𝐆𝐨𝐨𝐝𝐬 𝐨𝐧 𝐭𝐡𝐞 𝐑𝐢𝐬𝐞: The growth of industries like machinery and equipment manufacturing is pushing up steel consumption. Looking ahead, experts predict steel demand to continue its upward trajectory, expanding by 8-9 million tonnes annually in the next year. To know more, you can: * Call us or WhatsApp us on +91 8150900000 * Email us at ask-birlapivot@adityabirla.com * Visit us at www.BirlaPivot.com #AdityaBirlaGroup #BirlaPivot #ConstructionMaterial #BuildingRawMaterial #LifeAtBirlaPivot #BuildingTogether #rewriteyourambitions Source- Reuters

The Importance of the Steel Industry in India As a crucial sector for India's economic growth, infrastructure development, and strategic importance, the steel industry plays a vital role in shaping the country's future. Economic Importance- - Contributes around 2% to India's GDP - Provides direct and indirect employment to millions - Earns significant foreign exchange through exports Infrastructure Development- - Critical input for construction, infrastructure development, and urbanization - Essential for transportation, including vehicles, railways, and other infrastructure - Supports renewable energy infrastructure, such as wind turbines and solar panels Strategic Importance- - Critical component in defense equipment production - Essential for food security, through agricultural equipment and food storage facilities - Supports national security and energy independence Government Initiatives- - National Steel Policy aims to increase steel production to 300 million tons by 2030 - "Make in India" initiative promotes domestic steel production and foreign investment - Research institutions like SAIL and RDCIS promote R&D in the steel sector Challenges and Opportunities- - Competition from cheap imports - Environmental concerns and need for sustainable practices - Investment opportunities in R&D, sustainability, and technology upgradation Let's work together to promote the growth and development of the steel industry in India! #SteelIndustry #India #EconomicGrowth #InfrastructureDevelopment #StrategicImportance #MakeInIndia #Sustainability

AM/NS India's ₹1.4 lakh crore steel project in Andhra Pradesh marks a transformative milestone for the industry. With state-of-the-art facilities and a capacity of 17.8 MMTPA, this initiative is set to boost India's steel production and regional development. Additionally, the economic ripple effect of this investment cannot be underestimated. The project will create thousands of direct and indirect jobs in Andhra Pradesh, fostering regional development and boosting local economies. It will also enhance the competitiveness of India's steel sector by reducing dependency on imports and lowering costs, benefiting industries that rely on steel as a key input, from construction to automotive. Could this be the game-changer for India's steel sector? How do you think such large-scale investments can reshape the future of India's manufacturing industry and its position in global trade? #SteelIndustry #ManufacturingInnovation #EconomicDevelopment #MakeInIndia #SustainableGrowth #GlobalTradeTransformation #GlobalTradeLinks #GTL

India Research and Ratings (Ind-Ra) forecasts a 9-12% growth in domestic steel demand for FY 2024-25, driven by the automobile and infrastructure sectors. #IndiaSteel #SteelDemand  #IndRaReport #FY202425 #SteelIndustry  #InfrastructureGrowth #AutomobileSector  #GlobalSteelMarket #EmergingEconomies  #EconomicForecast #SteelMarketTrends  #IndustryGrowth  #SteelProduction  #MarketAnalysis  #InvestmentOpportunities

India's steel exports to Europe reached a five-year peak, Maharashtra surpassed Karnataka in private equity investments, India's core sectors experienced a 5.2% YoY growth-rate in March, and more! Lots more in this week’s Synergy Digest - your weekly download of #infra, #economy, and #metals sector #IndustryInsights

Can India Conquer the 300 MTPA Steel Production Peak? India's steel industry has witnessed remarkable growth in recent years, solidifying its position as a global steel powerhouse. Presently India is producing the world’s 7.6 % And its 144 Million Ton.. But can India truly scale its production to a staggering 300 Million Tones Per Annum (MTPA)? The Challenges: Raw Material Availability: It will be crucial to guarantee reliable and reasonably priced access to premium iron ore, coking coal, and other essential raw materials. Infrastructure Bottlenecks: For the effective transfer of raw materials along with finished goods, it is important to expand and modernize the networks of transportation (roadways, ports, and railroads). Environmental Concerns: One of the biggest challenges will be striking a balance between environmentally friendly techniques, strict restrictions on the environment, and rapid growth.  Technological Advancements: Reducing greenhouse gas emissions and increasing efficiency will require ongoing advances in steelmaking technology, such as electric arc furnaces and innovative processes for recycling.  Global Competition: Strategic planning and agility will be necessary to navigate the intricacies of global steel markets, which include trade conflicts and shifting demand.  The Opportunities: Growing Domestic Demand: Domestic consumption of steel is expected to be fueled by India's strong economic growth, which is propelled by manufacturing, urbanization, and infrastructure development.  Government Support: Important roles are going to be played by government initiatives that promote the steel industry, stimulate local manufacture, and promote the development of infrastructure.  Technological Innovation: India can take advantage of its strengths in technological advancement and renewable energy sources to become a leader in green steel technologies.  Reaching 300 MTPA of steel production will be an enormous undertaking that calls for substantial funding, cooperation between the public and private sectors, as well as a strong emphasis on sustainability. Modernization of steel plants is desperately needed. The employee must receive professional training. The workers and genuine labor ought to benefit as well from the expansion and profits. It shouldn't be limited to the highest level. What are your thoughts? Can India conquer this ambitious target? #IndianSteel  #SteelProduction  #Infrastructure  #Manufacturing  #EconomicGrowth #Sustainability

India is the only country among the top five steel producers to see growth in April, while others steel producing countries drop by up to 7%! What's driving India's success in steel production? 🇮🇳 #SteelIndustry #EconomicGrowth

India is taking a bold step toward sustainability under the visionary leadership of PM Narendra Modi. The government has launched the ₹15,000 Cr 'Green Steel Mission,' a transformative initiative to decarbonize the steel industry. Key highlights: ✅ Incentives for green steel production under the PLI scheme have already attracted ₹17,581 Cr in investments. ✅ Over 8,660 jobs have been created as of October 2024. ✅ Renewable energy adoption and diversified coking coal imports are driving self-reliance and sustainability. With these initiatives, India is not just addressing climate change but also strengthening its economy and creating employment opportunities. This is a significant milestone on our path to a greener, more sustainable, and self-reliant India. #GreenSteel #AatmanirbharBharat #Sustainability #EconomicGrowth https://lnkd.in/gzfv5dyz