CRISIL projects India to outpace global steel consumption growth, driven by robust infrastructure and manufacturing investments.
India’s steel consumption is poised for a remarkable growth trajectory, with demand expected to rise by 8-9 per cent in 2025, according to a recent report by CRISIL. This forecast underscores India’s expanding role as a major player in the global steel market, fuelled by its ambitious infrastructure projects and thriving manufacturing sector. As other major steel-consuming economies face slower growth, India’s performance stands out as a beacon of resilience and opportunity.
CRISIL’s analysis highlights that India’s growth in steel demand will significantly outpace that of its global counterparts, setting the nation apart as a leader in the sector. This surge is attributed to several factors, including government initiatives such as “Make in India,” increased investments in construction, and urbanisation efforts across the country.
The report emphasises that infrastructure development, including highways, railways, and housing projects, will be the primary driver of this growth. Additionally, the manufacturing sector’s steady recovery post-pandemic has further bolstered steel consumption, creating a robust demand outlook for 2025.
Interestingly, CRISIL’s findings also note that while global steel demand is projected to grow at a modest pace, India’s rapid expansion will help mitigate global consumption slowdowns. This positions India not only as a key consumer but also as a potential stabilizing force in the international steel market.
Despite the optimistic outlook, CRISIL cautions that challenges such as fluctuating raw material prices and global economic uncertainties could pose risks. However, the report remains confident in India’s ability to navigate these hurdles, given the government’s strong policy support and the industry’s growing adaptability.
India’s steel industry is entering a golden era, with CRISIL projecting unparalleled demand growth in the coming years. As the nation continues to prioritise infrastructure and manufacturing, its dominance in the global steel market is set to solidify. This growth trajectory not only reaffirms India’s economic resilience but also highlights the crucial role of strategic planning in fostering sustainable industrial development. With 2025 on the horizon, the steel sector is ready to forge ahead, backed by the strength of CRISIL’s optimistic projections.
