According to the latest report released by BMI Research, India is on its way to become a top producer in steel worldwide. Owing to the demand in the\u00a0construction, automotive and infrastructure sectors, the demand is only going to accelerate. The government’s decision to increase the capacity of the production in the steel sector is also being given credit for the success,\u00a0the Steel Users Federation of India (SUFI) has said in a statement.\u00a0SUFI’s President, Nikunj Turakhia also emphasises on the same statement, commending the push from the government leading to the\u00a0Indian steel industry’s rise in output.<\/p>\n
The report highlights the contributions of steel giants in India like\u00a0Steel Authority of India Ltd (SAIL) and Tata Steel who have driven the growth. The\u00a0production of total finished steel, according to official statistics,\u00a0stood at 101.274 MT in April-March 2016-17, with the export up by\u00a0102.1 per cent in April-March 2016-17. The import of steel, however, witnessed a decline of\u00a036.6 per cent over same period and stood at\u00a07.427 MT in April-March 2016-17. The ISA is positive about the trend continuing in the future due to the quality and delivery from the Indian steel industry.<\/p>\n