Tag: capacity addition

Rating agency ICRA has revised the domestic steel demand outlook for this fiscal to 9-10 per cent, from the 7-8 per cent forecast at the start of the fiscal, on the back of strong government capital expenditure. Domestic steel demand is poised to grow at a double-digit compound annual growth rate of 10.5-11 per cent during FY2022-24. The last time the industry witnessed such sustained high growth was before the 2008 global financial crisis, when strong private sector capex fuelled domestic steel demand at a CAGR of 12.7...