Big Ticket Infra Projects Expected

A government task force recently projected total investment of Rs 111 trillion in infra projects over five years to augment infrastructure and create jobs in the country. "Implementation of these projects will shoot up the steel demand significantly. However, India will need to take precautionary measures to protect domestic steel sector as countries like China, which have huge inventory build-up, may try to dump their products when demand rises in India. The slowdown in industries like construction, auto, and infrastructure, which together consume about 80 per cent of steel production, during the lockdown led to a slump in demand of steel in the country and as a result inventory levels have increased.