World Steel Association: India fastest-growing major steel market by 2027
Business
India's steel demand is on track to jump 8% by 2027, hitting 186.2 million metric tons and making India the fastest-growing major steel market, says a World Steel Association report.
This surge is powered by infrastructure spending, robust private real estate activity, and expanding manufacturing (basically, all the things that keep cities growing and new technology rolling out).
India's growth driven by renewables, cars
While most of the world's steel demand is flatlining, India's story is different.
As China's need for steel drops off, India's push in renewables and cars (for both local use and export) helps it stand out from the crowd.
The World Steel Association highlights India's continued growth as the world's fastest-growing major steel market.