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Indian steel sector growth may top GDP numbers - Mr Anand Sen

Steel News - Published on Thu, 08 Nov 2018

Image Source: Livemint
Economic Times quoted IIM president Mr Anand Sen as saying that steel sector s growth in the first half of the current fiscal could surpass that of the country's GDP numbers.The official also said long and short-term demand outlook for the sector remains robust with many government initiatives and global cues. He added that "Demand in the first quarter was strong, and in the second quarter, it was stable. In the first-half of the year, demand growth could be higher that 7percent.

He added that "We hope when the final GDP numbers are announced for the first half, steel sector's growth will be more, a trend we expect to see after a decade.”

Mr Sen said India's steel capacity is likely to be at least 200 million tonne by 2030. He added that "The outlook for steel demand in India remains robust, with many announced programmes in infrastructure |nse o.oo%| and automotive sector. The first half of the current fiscal has been stable for the steel sector in India.”

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Posted By : Ratan Singh on Thu, 08 Nov 2018
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