IMPACT OF UNION BUDGET 2024-25 ON THE STEEL INDUSTRY OF INDIA
- Credit Rating Agency in India
- Industry Report
- IMPACT OF UNION BUDGET 2024-25 ON THE STEEL INDUSTRY OF INDIA
India's steel industry remains a bright spot in the global scenario and achieved its highest levels of production and consumption during FY24. Domestic finished steel production increased by 4.4 per cent year-over-year to 34.9 million tonnes, while domestic steel consumption rose by 15 per cent year-over-year to 35.5 million tonnes in Q1 (April-June).
This robust demand is expected to continue, with steel demand projected to surpass an 8 per cent year-over-year growth in FY25.