Engineering

Executive summary India’s economic growth largely depends on the steel industry, making the country a global hub for steel production. With deliberate strides towards industrial self-sufficiency, particularly in steel, India is currently the world's secondlargest1 producer. With robust economic growth and government initiatives to support the sector, India is wellpositioned to witness continued growth in the steel industry. India seeks to achieve 300 Million Metric Tonnes (MT) of crude steel capacity by 20302 and 500 MT by 2047.3 Consumption across sectors of the end-user ecosystem will drive this growth, which will also be promoted by government expenditure and increasing urbanisation.