Global and Indian experts expect Indian economy to grow 6-7 per
cent in the medium term and steel elasticity is said to be 1.2 times or so of
the GDP growth
Indian steel
sector is expected to see an 8 per cent growth in FY24 despite the global
slowdown. The Steel Ministry is already in touch with the Commerce Ministry for
negotiating melt-and-pour norms in FTAs to bring down imports, says Nagendra
Nath Sinha, Union Steel Secretary.