Comments
The steel industry expects demand to grow 5.3 per cent this fiscal to 85.8 million tonnes against 81.5 mt recorded in the same period last year.
The overall steel demand next fiscal is expected to grow 5.6 per cent to 90.6 mt, according to a statement issued by the Indian Steel Association on Wednesday.
Releasing the short-term domestic steel demand outlook after the second annual general meeting of the association, Sajjan Jindal, President of the association, said the demand has increased consistently in the last eight quarters and expected to strengthen further in the coming days with almost all the sub-sectors achieving higher growth rates.
Construction and capital goods sectors are likely to see an upward trend in growth, supported by higher infrastructure spending.
The Government’s initiative by way of increments to government employees and public sector staff is likely to boost automotive and consumer durables sectors in 2016-17.
In addition, a pick-up in rural income due to good monsoon and government’s initiatives to boost rural income are expected to help in creating sustainable rural demand.
Railways and intermediates sectors are also slated to recover from low output in the previous years and gain momentum from 2017 onwards, the association said.
Comments
COMMENT NOW
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.