9,347.17 TL BIST 100 BIST 100
31.06 $ USD USD
€33.62 EUR EUR
43.42 TL Interest Interest
83.25 $ Fossil Oil Fossil Oil
22.62 $ Silver Silver
3.88 $ Copper Copper
121.11 $ Iron Ore Iron Ore
394.00 $ Ship Dismantling Ship Dismantling
2,023.50 TL Gold (gr) Gold (gr)

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.


No comment yet.

Only +plus subscribers can access this content.

SUBSCRIBE now to share your thoughts on the markets and get more comments.
SUBSCRIBE If you already have an account Sign In

Most read news

Billet prices react to changing demand in Türkiye, Russia and Ukraine

Sunday, February 25, 2024

Metinvest's 2023 steel production declined

Sunday, February 25, 2024

Minister Özhaseki warns about "carbon footprint"

Sunday, February 25, 2024

Japan to provide $4.86 billion in incentives for chip

Sunday, February 25, 2024

Uncertainty prevails in the East Asian steel market

Saturday, February 24, 2024
Follow List
Your watch list is empty

Add your favorite commodities for quick access and don't miss the latest price change news.

There are no news categories you follow
Edit Notification Preferences
E-bulletin subscription
Sign up to receive the latest news and daily iron prices by e-mail and sms
Become a Plus Subscriber Now!
Try it free for 3 days!
Subscribe Now
Neutral Prices
Be informed
Provincial Iron Prices
Comments and Analysis
Subscribe Now