According to the Indian Iron and Steel Association (IndianSteelAssociation) said that India's economic development and urbanization acceleration will lead India's steel production rapidly increase in next decade.

The Secretary of the Indian Steel Industry Association said that the 2017-2018 fiscal year, India's steel production will grow from the record high of 101.3 million tons in the past 12 months increased by 10%-12%. It is expected that the country's steel production will increase to 240 million tons by 2031.

Meanwhile, India's steel consumption will grow more than 5% from the current 83.9 million tons