Economic Survey 2022: India registers 25% growth in steel output at 66.91 MT in Apr-Oct FY22

According to the Economic Survey, India’s crude steel production grew 25% year on year to 66.91 million tonne in April-October 2021-22.

According to the poll, the country’s output of finished steel increased by 28.9% year on year (y-o-y) to 62.37 MT over the time, while consumption increased by 25% to 57.39 MT.

“Despite being damaged by COVID-19, the steel industry has bounced back,” the survey noted, “with cumulative crude and finished steel output in 2021-22 (April-October) at 66.91 MT and 62.37 MT, respectively, up 25.0 percent and 28.9 percent over the same period last year.”

With the economic recovery, the global demand for steel is slated to increase this year.