In this episode of the State of the Economy podcast, Subramani Ra Mancombu from businessline talks to Sehul Bhatt, Director-Research at CRISIL Market Intelligence and Analytics about the current state of India’s steel industry.   Bhatt explains that despite the increase in imports, India’s steel production capacity is on the rise. Indian mills are expected to add 55 to 60 million tonnes of capacity over the next four years, which translates to a 33% increase compared to the current capacity. This growth is driven by robust demand from key sectors such as construction, infrastructure, engineering, and the auto industry.    The podcast also explores the impact of global market conditions on India’s steel industry. Bhatt mentions that while global steel demand is expected to increase marginally, the market remains competitive, particularly with Chinese producers. This has led to a mixed export strategy for Indian steel mills, which prioritise the domestic market when local prices are more favourable.    Bhatt emphasises the importance of continued investment in green steel production and energy efficiency to enhance global competitiveness. Additionally, the government’s ongoing infrastructure push is expected to support long-term growth in the steel sector. 

Host: Subramani Ra Mancombu; Producer: Amitha Rajkumar


About the State of the Economy podcast 

India’s economy has been hailed as a bright spot amid the general gloom that seems to have enveloped the rest of the world. But several sectors continue to stutter even as others seem set to fire on all cylinders. To help you make sense of the bundle of contradictions that the country is, businessline brings you podcasts with experts ranging from finance and marketing to technology and start-ups