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Indian metals companies have started reviving their capacity expansion plans again as they see demand recovering and since prices have remained elevated despite a recent fall. In FY17, metal and steel companies announced capital expenditure (capex) plans worth Rs 1.4 lakh crore ($22.2 billion), according to CMIE data, which is quite a large sum when compared to the past few years.
Mahesh Vyas, managing director & CEO, Centre for Monitoring Indian Economy, said, "There was a smart pick-up in new steel investment in 2016-17. JSW Steel announced a new steel project and Tata Steel and Bhushan Steel have large expansions.
