In both carbon and stainless steel, per capita use in India trails the world average of 208 kg and 6kg, respectively by distressingly long margins. The country’s continuing disappointing record in the application of steel, particularly away from urban centres is because only a handful of companies in the private and public sectors are engaged in aggressive market promotion. The national steel policy has formulated a strategy to lift the per capita consumption of steel from the present 62 kg to 160 kg by 2030-31. No doubt, this will be a good crack at raising steel application. But our 2030-31 use target will still be way behind the current world average of 208 kg.
TO READ THE FULL STORY, SUBSCRIBE NOW NOW AT JUST RS 249 A MONTH.
Already a premium subscriber? LOGIN NOW
SUBSCRIBE TO INSIGHTS
What you get on Business Standard Premium?
- Unlock 30+ premium stories daily hand-picked by our editors, across devices on browser and app.
- Full access to our intuitive epaper - clip, save, share articles from any device; newspaper archives from 2006.
- Curated newsletters on markets, personal finance, policy & politics, start-ups, technology, and more.
- Pick your 5 favourite companies, get a daily email with all news updates on them.
- 26 years of website archives.
- Preferential invites to Business Standard events.