India only country among top 10 nations to register growth in steel production in Jan-March 2022
The Steel Ministry in its official statement said, “India has produced 31.9 million tonnes of steel in the period with a growth of 5.9 percent. In March 2022, with a production of 10.9 million tonnes of steel in India, the growth rate is 4.4 percent.”
India has become the only country among the top 10 steel producing nations of the world to register growth in steel production in the January to March 2022 period, as compared to the corresponding period last year, as per the data released by the World Steel Association.
The Steel Ministry in its official statement said, “India has produced 31.9 million tonnes of steel in the period with a growth of 5.9 percent. In March 2022, with a production of 10.9 million tonnes of steel in India, the growth rate is 4.4 percent.”
See Zee Business Live TV Streaming Below:
TRENDING NOW
Union Steel Minister Ram Chandra Prasad Singh congratulated the Indian steel industry for sterling performance at a global level and encouraged them to sustain this level of performance in 2022.
He added that such momentum of production will help India reach the targeted level of 500 million tonne production capacity in the next 25 years of Amritkaal.
Amid this stupendous feat, Steel Minister held separate meetings with public sector and private sector steel companies earlier this week and reviewed their capital expenditure, production targets, and plans.
He exhorted them to keep in mind the carbon-neutral commitment of India by 2070, the hydrogen emission, and clean & green steel while making strategic plans.
The report stated that Brazil is the only other country among the top 10 Nations which has registered growth in the month of March. The world’s largest steel manufacturer China reported a negative growth of over 10 per cent during the first three months of 2022.
Other nations such as Japan, United States, Russia, South Korea, Germany, Turkey, Iraq also reported negative growth during the mentioned period.
06:06 pm
India to see "healthy growth" in steel demand at 8.6% in 2023: Worldsteel
Domestic steel and cement industry need Rs 47 lakh crore investment to meet net zero goals: Report
Steel price increases by Rs 5000 per ton, know which companies likely to be affected
Budget 2022: Centre to extend customs duty exemption on steel scrap by 1 year
PLI Scheme for Speciality Steel: Centre begins inviting applications from investors; fixes March 29 the last date