Several main Indian steel plants, including JSW Steel and Tata Steel, were forecasted to invest billions in significantly increasing their production to respond to the growing domestic demand. India is one of the top-growing economies in the world.
According to the source, the major steel manufacturers were expected to increase production capacity by 2.2 million tons in the fiscal year beginning April 2024. Among them, Jindal Steel and Power was forecasted to increase by 6 million metric tons from existing capacity of around 9.6 million metric tons. Tat Steel planned to add 5 million tons capacity of 21 million tons. JSW Steel scheduled to increase capacity from 27.5 million tons to 38.5 million tons in the 2024-25 fiscal year.
Source: YIEH
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