As the world slowly recovers from COVID-19, steel makers globally, are reaping benefits of revival in demand in major consuming regions such as the USA and the EU and supply balancing in China. Record steel prices have helped steel makers repair their balance sheets weighed down by debt of the previous expansions and subdued prices.
As with their global peers, the Indian steel players too have had to contend with a significant jump in demand which was initially export driven in 2020. Domestic demand too caught up later and consequently Indian steel mills are running at high utilisation rates and making the most of the upcycle.
To boost demand and take the country to a USD 5 trillion economy goal, the government shifted its focus on increasing steel production capacity to 160 million tonnes. This would mean adding further 18 million tonnes capacity through competitive, efficient and environment-friendly ways adhering to global safety and quality standards. Needless to say, that the demand for steel will substantially rise and steel manufacturers are poised to play a major role in making India a USD 5 trillion economy and a global economic powerhouse. With the opening up of commercial activities and effect of Government Programmes, a surge in demand is expected for the steel sector and the players have to be future ready to meet this demand.
CII perceives these as opportunities for all stakeholders, including government and private sector. To address the issues and concerns and to draw a roadmap for 2022, CII is organizing the 5th edition of its flagship initiative Steel Mart 2021 with the theme ‘Steering India towards USD 5 Trillion Economy’ on 2 - 3 December 2021 over virtual platform. CII Steel Mart 2021 would be a 2 day Virtual Conference that will have a Grand Plenary Session followed by 5 focused sessions and 3 State Specific and 3 Country Specific Sessions. A Virtual Exhibition and B2B meetings will also be organised during Steel Mart.