You are here: Home » Economy & Policy » News
Business Standard

Steel may grow by 6-8 pc in FY20 amid concerns over dumping from China

The Institute for Steel Development & Growth (INSDAG) was also of the view that the sector will script a growth of 7-8 per cent during the fiscal

Press Trust of India  |  Kolkata 

steel
Representative Image

Amid concerns about sluggish and dumping threat from China, domestic steel may register a of 6-8 per cent in the current financial year, experts said on Tuesday.

The sector remained bullish on for the current financial year amid short term concerns on sluggishness and dumping threat from China, JSW Steel president (Operations) Partha Sengupta said.

"We expect a demand of 6-7 per cent in FY'20," he said on the sidelines of The Metals Conclave organised by the Bengal Chamber of Commerce and Industry.

The Institute for Steel Development & (INSDAG) was also of the view that the sector will script a growth of 7-8 per cent during the fiscal.

"The central government has been focusing on infrastructural projects like Sagarmala, Smart Cities and the new government would stick to its focus. I think is expected to grow by 7- 8 per cent in 2019-20," Director General Sushim Banerjee said.

National Mineral Development Corporation's (NDMC) former chief Rana Som said the steel companies should expand with equity capital rather on debt fund.

He also said the PSU land bank should be made available for expansion of the private sector.

The government should also take a view on long term contracts for iron-ore if it wants to achieve the steel production target of 300 million by 2030, he said.

First Published: Tue, May 28 2019. 19:45 IST
RECOMMENDED FOR YOU