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India's steel production increased by 14.3% in the first 8 months of the fiscal year

According to data from the Ministry of Steel, India's steel production recorded great success in the first eight months of the current financial year.

India's steel production increased by 14.3% in the first 8 months of the fiscal year

Finished steel production in the country reached a total of 89.71 million tons in the period April-November 2023. This reflects a significant increase of 14.3% compared to the same period the previous year. Simultaneously, steel consumption also increased significantly, reaching 87.07 million tonnes during this time period, recording a strong annual growth of 14.9%.

Crude steel production recorded a commendable increase, rising 14.7% to 94.11 million tonnes from 82.07 million tonnes in the same period last year.

In terms of imports, finished steel increased by 13.4% from April to November, reaching 4.25 million tons compared to 3.75 million tons in the same period of the previous year.

The Ministry of Steel's data underlines the resilient performance of the Indian steel sector, which plays an important role in supporting sectors such as construction, infrastructure, automotive, engineering and defence. This strong production further solidifies India's position as the world's second largest steel producer.

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