Thiruvananthapuram, Dec. 9, India’s steel industry has bounced back after Covid blues to report a 25.6 percent growth in crude steel production in the first eight months of 2021, Infomerics Valuation and Rating said.
Reports quoting government data, said the country’s crude steel production stood at 77.74 million tonnes (mt) in the January-August period of 2021, which is a growth of 25.6 per cent over the same period of the previous year.
The Infomerics report titled, Steel Industry: Trends & Prospects, said along with higher production, the country’s steel exports in FY22 are also expected to improve that of FY21. The exports have already crossed 70 percent of FY21 levels. Imports,, is expected to maintain their declining trend
The report of Infometric says the declining imports and rising exports are an indicator of the country moving ahead in its pursuit of self-sufficiency or “atmanirbhar”.
