The Indian steel industry is expected to see a major jump and emerge as the second largest producer after China as early as next year (2017), Ravi Uppal, CEO and MD, JSPL, told ISMW.
“The Indian industry is poised for a huge growth. Right now, we are the world’s largest in terms of growth. In terms of volume, we (currently) are (ranked) behind China and Japan with 114 million tons (mt). Then comes the US at number four (slot). If we continue with our capacity expansion plan, by next year we would be number two and move beyond Japan,” said Uppal.
“This means, potentially India can be the second largest steel producer in the world, which is a matter of great honour and pride. We may be a distant second to China, but we will still be number two,” he added.
Source: ISMW