You are here: Home > Steel News > Latest Steel News > Indian...

Indian per capita steel consumption rises over last two fiscal years

Thursday, 28 December 2017 12:22:00 (GMT+3)   |   Kolkata
       

Indian per capita consumption of steel has increased to 65 kg from 61 kg over the past two fiscal years, an official at India's Ministry of Steel said on Thursday, December 28, citing demand-consumption analysis carried out by the ministry.

Attributing the increase in per capita consumption to the government’s promotion of steel in "underground and over-ground construction and government investments in infrastructure projects", the ministry official said that this is a positive step towards the Indian government’s stated objective to increase domestic steel production to 150 million mt per year by 2020, up from the present level of 126 million mt per year. However, he acknowledged that Indian per capita steel consumption still has a long way to go to catch up with the level of 202.2 kg in developed economies.

But, with the government making use of domestic steel mandatory for all government-funded projects, per capita steel consumption is expected to see a sharp rise in the short term, the official added.

At present, domestic steel consumed by various government agencies and companies involved in implementing infrastructure projects accounts for 20 percent of total Indian steel consumption.

 


Similar articles

India’s steel production growth to slow down in FY 2019-20

22 Aug | Steel News

Indian government mulls fiscal incentive for higher steel usage in affordable housing

06 Sep | Steel News

Tata Steel’s crude steel output up 13 percent in September quarter

07 Oct | Steel News

India's finished steel consumption up 5.4 percent in April-July

08 Sep | Steel News

India's finished steel consumption up 7.1 percent in April-June

11 Aug | Steel News

India's finished steel production up 0.5 percent in April

12 Jun | Steel News

India’s finished steel consumption stable in April-June

01 Aug | Steel News

India sees improved steel demand during Q1 FY 2012-13

09 Jul | Steel News

US import HDG activity continues to slow despite falling prices

26 Jun | Flats and Slab

Higher pig iron output and low demand depress prices in India

22 Jun | Steel News