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    Strength To Strength

    With change of guard in at least half a dozen companies, the Indian steel industry is undergoing unprecedented churn. It will emerge stronger than ever.
    by Sumant Banerji May 27, 2019 5 minutes

    The World Steel Association, which represents 85 per cent of the world's steel producers, said in April that it expected demand for the commodity in India to grow 7 per cent this year as well as next year. This is over five times the projected global growth 1.3 per cent in 2019 and 1 per cent in 2020. India is expected to grow faster than most regions of the world.

    This is not something entirely new. In the cyclical global steel industry that is prone to severe upturns and downturns, the Indian market has forever been a bright spot. The association's April outlook only reiterates that. In the last 10 years, India's crude steel production has grown 6.3 per cent on an average, the fastest among big steel producing nations, nearly double the world average of 3.2 per cent. In absolute terms, production has grown from 57.8

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