India: Steel Ministry targets to double rural steel demand
Oct 22, 2020 10:00
The government has a fixed objective of increasing rural consumption of steel from the current 19.6 kg/per capita to 38 kg by 2030-31. While the national steel consumption average stands at 74.7 kg, the government is aiming to increase rural per capita consumption to 36 mn t from the current 18-odd mn t/per annum. It deserves mention that demand emanating from rural India provided the silver lining during the COVID-19 lockdown when export demand coupled with rural recovery supported steel sales.
A Ministry of Steel webinar held on 20thOct’20, with CII on board, deliberated on topics of pressing importance. Below are highlights related to possible pathways for boosting steel consumption in rural India as outlined by various sectors:
2.95 core pucca houses under PMAY-G to generate demand for TMT/structural steel by 4.7