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India's steel demand is expected to increase in the upcoming years

India aims to achieve demand of 120 million tons and production of 136 million tons by the end of 2023. Crude steel production of 210 million tons and demand of 230 million tons are projected by 2030.

India's steel demand is expected to increase in the upcoming years

India's steel demand is expected to grow by 7% to reach an average of 190 million tons by 2030. Much of this demand is expected to increase in the future as the construction and infrastructure sectors provide transportation. In addition, the automotive and engineering sectors are other important areas supporting demand.

India aims to meet demand expectations of 120 million tons and production of 136 million tons by the end of 2023. By 2030, crude steel production of 210 million tons and demand of 230 million tons are projected. As in other countries, steel production in China is expected to decline.

In order to increase India's steel production, 116 million tons of metallurgical coal will be needed to produce 140 million tons of pig iron by 2030. In addition, India will be the largest importer of marine coal with a 30% market share and iron ore demand is expected to reach 350 million tons in 2030.

2023 will be an important year for India as the country aims to increase its steel production capacity to 300 million tons by 2030. Currently, electric arc furnaces contribute 54% of steel production. With India's demand for steel on the rise, the industry is expected to grow substantially. This will have a positive impact on the country's economic growth and job creation.

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