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Steel sector growth may top GDP numbers: Metallurgists' body

Press Trust of India  |  Kolkata 

The steel sector's growth in the first half of the current fiscal could surpass that of the country's GDP numbers, a senior of a metallurgists' body said on Monday.

The of (IIM) also said long and short-term demand outlook for the sector remains robust with many government initiatives and global cues.

"Demand in the first quarter was strong, and in the second quarter, it was stable. In the first-half of the year, demand growth could be higher than 7 per cent," IIM Anand Sen, who is also a top official, said here.

"We hope when the final GDP numbers are announced for the first half, steel sector's growth will be more, a trend we expect to see after a decade," he said.

Sen said India's is likely to be at least 200 million tonne by 2030.

"The outlook for in remains robust, with many announced programmes in infrastructure and automotive sector. The first half of the current fiscal has been stable for the in India," he said.

Meanwhile, the IIM in association with Tata Steel, is organising its 56th National Metallurgists' Day (NMD) and 72nd Annual Technical Meeting (ATM) in the city from November 14 to 16.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Mon, November 05 2018. 19:05 IST
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