During 2021, India was the 2nd largest producer of crude steel in the world. Crude steel production expanded to over 118 million tonnes. Private players in the country continue to dominate production, with over 80 per cent market share.
In view of the importance of capex in strengthening infrastructure and enhancing production capacity in the post pandemic period, significantly higher targets have been set for steel CPSEs. Meanwhile, steel prices have firmed up thanks to global economic rebound and supply-chain disruptions. Here is a bird’s eye view of the industry.