A top official of domestic steel giant SAIL has said that a sustained Government spending on infrastructure like roads, railways, power and housing will propel India into the league of top global steel consuming nations in the next 10 years.
Commenting on the issue, SAIL Chairman P K Singh told the media, “If you look at the massive infrastructure push by the government, even going by conservative estimates, steel demand will grow a lot. India will equal the global per capital consumption in 10 years."
As per the data from industry body World Steel Association per capital steel consumption in India, the world's third largest producer of the metal, stood at 59.4 kg per person in 2014, against a global average of 216.6 kg.
According to a report by the Working Group on Steel for the 12th Five Year Plan period, the potential of raising per capital steel consumption in India was being supported by several factors.
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