Reuters reported that Moody’s Investors Service Senior Vice President Mr Kaustubh Chaubal said that Indian demand remains a bright spot in major steel markets as domestic consumption is seen growing at a high single digit rate over the next 12-15 months. He told Reuters “India remains the bright spot because the underlying steel demand still remains quite solid. It is one of the brighter spots when we compare with any other region, whether it is APAC, Europe or even the US. In the coming months, a major catalyst for steel demand growth would be infrastructure investments ahead of India’s national elections in 2024.” Moody’s assessment is in line with Worldsteel’s view that Indian steel demand is expected to remain firm in the second half of the financial year. The World Steel Association has projected India's steel demand growth at 6.1% for 2022 and 6.7% for 2023 in its short-range outlook this week. India's growth figure has been slightly revised down for this year from the April outlook, but it is still the highest among top global steel consumers. World’s second-largest crude steel producer India has posted 11.4% YoY growth in finished steel consumption during April-October to 65.5 million tonnes.