India replaces Japan as 2nd top steel producer

India has replaced Japan as the world’s second-largest steel producer. The country’s crude steel output rose 4.9 per cent to 106.5 million tonnes in 2018, while Japan’s production fell 0.3 per cent to 104.3 million tonnes, according to data from the World Steel Association (WSA).

The development will boost the steel ministry’s initiative to achieve 300 million tonnes of production capacity by 2030. The government is also making efforts to increase India’s per capita steel consumption through various policy initiatives and stepping up spending on housing and infrastructure.

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