India is seen as a "bright spot" for the global steel production growth on account of the government's push to augment capacity and demand from the construction, automotive and infra sectors, says a report.
The firms like SAIL and Tata Steel are expected to drive the steel output growth, according to the report by BMI Research, a Fitch group company.
"The government has been spearheading the push towards the boost in steel production capacity, with u .
"We forecast India's steel output to average annual growth of 8.9 percent during 2017-2021, higher than 2.9 percent during 2012-2016," the report said.
India's steel output will grow from 88.4 million tons (MT) in 2017 to 128.6 MT by 2021, it added.
The country's share of global steel production will accelerate from 5.4 per cent in 2017 to 7.7 percent in 2021, it added.
Source: Economic Times