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| India pips US, Russia to be world's third-largest steel maker |
| Press Trust of India / New Delhi May 14, 2009, 18:11 IST |
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India has emerged as the third-largest steel producer in the world, leaving behind Russia and the US, in the first quarter of 2009.
As per the World Steel Association estimates for the January-March period of 2009, India reported 1.02 per cent increase in output at 13.17 million tonnes for three months ended against the year-ago period.
China and Japan maintained their supremacy in terms of steel output to held the first and the second slot respectively for the January-March period. China recorded a steel production of about 126 million tonnes, while Japan had 17.60 million tonnes in the three months.
On the contrary, Russia and the US saw their production plunging by 33 per cent and 53 per cent to 12.88 million tonnes and 12.09 million tonnes, respectively, in the period.
Acknowledging India's rise as the third-largest steel producer in the world, steel Secretary P K Rastogi said demand for the commodity in the country is rising, contrary to the global scenario.
"This shows there is demand for steel in the economy. While world's average per capita steel consumption declined, in India it did not," he said.
In terms of annual steel output, India holds fifth rank in the world with a production of over 55 million tonnes.
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