Surge in demand boosts steel imports

摘要

EVEN as billions of dollars are committed to increase steel production in India, imports have risen sharply, driven by a surge in consumption and delay in commissioning of projects. As per the latest government statistics, steel consumption in the country has grown on n compounded basis by about 9.70 percent since '02-03, while production during the same period has grown by only 6.60 percent leaving the room open for imports. This mismatch would only grow in future as infrastructure projects get off the ground while increase in steel production may not keep pace.