During the first half of 2006-07, the industry registered higher production and generated higher profits as compared with HI of 2005-06 - paving the way for a robust growth in the whole year of 2006-07. And, the industry has achieved this growth despite the higher prices of raw materials. India's finished steel output may touch a level of 45 Mt in 2006-07. It has to be increased by another 15 Mt in next five years and by a further 50 Mt in the next 8 years to match the projections of National Steel Policy. To achieve such a huge growth, according to economic experts, India's GDP should grow annually by 10 percent or more. Currently it is hovering around 8 percent. The Indian Prime Minister has recently announced to set an average 9 percent annual growth target during the 11th Five Year Plan (2006-07 to 2011-12). He also said that the government will be aiming at 10 percent growth in the final years of the Plan.
展开▼
