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Indian steel production increases in FY23

India has already produced 37.98 million tons in FY23, and until March 31, 2023...

Indian steel production increases in FY23

The Indian infrastructure growth path has been recorded as the fastest infrastructure growth in the world since 2014. Steel production and consumption is the actual state of the growth process. On January 23, India's production of reinforcement rods and structures for infrastructure projects for the 2019-20 fiscal year has already surpassed the total consumption in the 20th fiscal year.

Production and consumption, which were over 37 million tons in 2019-20, had decreased to 32 million tons during the 21st Fiscal Year 2020-21 shutdown and recession. In the 2022-23, 23 fiscal year, 37.98 million tons of production has already been made and it is projected that more than 40 million tons will be produced by March 31, 2023.

The biggest contribution in this sector has always been from the Mini Steel Sector, which produces 70% of the steel that India needs. The policy has also been very clear to support this industry and for steel production processes and rolling plants approved in accordance with the BIS1786 and BIS2062 specifications.

Many companies in the Mini Steel Sector are currently moving towards production of over 1 million tons per year, and also list their companies for transparency and better facilities for improved capital and large organizational structures with improved TQM and SIGMA Rules.

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