India’s Union Steel Minister Mr Ram Chandra Prasad Singh while replying to a question in the Rajya Sabha informed that the demand for steel in 2020-21 fell by 5% YoY to 94.9 million tonnes from 100.2 million tonnes in 2019-20.Building & Construction -41.0 million tonnes, down 2.4 million tonnes or 6%Infrastructure - 23.8 million tonnes, down 1.3 million tonnes or 5%Automobile - 8.4 million tonnes, down 0.4 million tonnes or 5%Engineering & Packaging - 20.9 million tonnes, down 1.1 million tonnes or 5%Defence - 0.8 million tonnes, down 0.1 million tonnes or 11%However, the Steel Minister informed that the government is taking various measures to boost the demand in steel consuming industries. He said “Government has laid special emphasis on infrastructure development through schemes like National Infrastructure Pipeline, Housing for All, Jal Jeevan Mission, Bharatmala Project, Sagarmala Project, Construction of Dedicated Freight Corridor and UDAN initiative etc.”He added “The steel ministry has also been engaging stakeholders from various sectors such as housing and construction, infrastructure, urban development, railways, defence, oil & gas, rural development and food processing etc. with a view to promoting usage of steel and to boost the demand.”The data reveals that Building, Construction & Infrastructure sector accounts for almost 70% of Indian steel consumption and automobile less than 10%Building, Construction & Infrastructure - 68%Automobile - 9%Engineering & Packaging - 22%Defence - 1%India’s Crude Steel Production in million tonnes2016-17 - 97.94 million tonnes2017-18 - 103.13 million tonnes, up 5% YoY2018-19 - 110.92 million tonnes, up 8% YoY2019-20 - 109.14 million tonnes, down 2% YoY2020-21 -103.54 million tonnes, down 5% YoY2021-22 (upto October, 21) - 66.805Source: Joint Plant Committee
India’s Union Steel Minister Mr Ram Chandra Prasad Singh while replying to a question in the Rajya Sabha informed that the demand for steel in 2020-21 fell by 5% YoY to 94.9 million tonnes from 100.2 million tonnes in 2019-20.Building & Construction -41.0 million tonnes, down 2.4 million tonnes or 6%Infrastructure - 23.8 million tonnes, down 1.3 million tonnes or 5%Automobile - 8.4 million tonnes, down 0.4 million tonnes or 5%Engineering & Packaging - 20.9 million tonnes, down 1.1 million tonnes or 5%Defence - 0.8 million tonnes, down 0.1 million tonnes or 11%However, the Steel Minister informed that the government is taking various measures to boost the demand in steel consuming industries. He said “Government has laid special emphasis on infrastructure development through schemes like National Infrastructure Pipeline, Housing for All, Jal Jeevan Mission, Bharatmala Project, Sagarmala Project, Construction of Dedicated Freight Corridor and UDAN initiative etc.”He added “The steel ministry has also been engaging stakeholders from various sectors such as housing and construction, infrastructure, urban development, railways, defence, oil & gas, rural development and food processing etc. with a view to promoting usage of steel and to boost the demand.”The data reveals that Building, Construction & Infrastructure sector accounts for almost 70% of Indian steel consumption and automobile less than 10%Building, Construction & Infrastructure - 68%Automobile - 9%Engineering & Packaging - 22%Defence - 1%India’s Crude Steel Production in million tonnes2016-17 - 97.94 million tonnes2017-18 - 103.13 million tonnes, up 5% YoY2018-19 - 110.92 million tonnes, up 8% YoY2019-20 - 109.14 million tonnes, down 2% YoY2020-21 -103.54 million tonnes, down 5% YoY2021-22 (upto October, 21) - 66.805Source: Joint Plant Committee
