Automobile industry to drive demand for steel

摘要

The automotive industry in India is one of the larger markets in the world. It had previously been one of the fastest growing globally, but is currently experiencing flat or negative growth rates due to general global slowdown including India. With the increasing growth in demand on back of rising income, particularly in rural areas, expanding middle class and young population base, in addition to a large pool of skilled manpower and growing technology, will propel India to be among the world's top five auto-producers by 2015.