India to equal world per capita steel consumption in 10 years
A sustained government spending on infrastructure like roads, railways, power and housing will propel India into the league of top global steel consuming nations in the next 10 years, a top official of domestic steel giant SAIL has said.
“If you look at the massive infrastructure push by the government, even going by conservative estimates, steel demand will grow a lot. India will equal the global per capita consumption in 10 years,” SAIL Chairman P K Singh told.
Per capita steel consumption in India, the world’s third largest producer of the metal, stood at 59.4 kg per person in 2014, against a global average of 216.6 kg, data from industry body World Steel Association showed.