Automobile sector to remain steel's fastest growing demand point

摘要

Defence hardware procurement across the globe remains largely unaffected even when a country's economy is not doing well. This was much in evidence in the years following the 2008 global economic crisis. It will be some time before the demand for ferrous and non-ferrous metals and linked minerals in the upstream picks up. Incidentally, metal producers have not experienced any major demand change from defence-related industries through recent difficult times. India has a programme to spend $130 billion over a seven-year period to equip the army with modern weapons.