India's steel demand may more than quadruple in the next decade as Indian government increases investment in railways and ports.
Since the government spends more to develop infrastructure and the economic growth fuels use of metal in houses, cars and appliances; steel
consumption is expected to rise from 35 million tons to 160 million tons.
Furthermore, increasing demand for automobiles in
India will pick up demand for steel. Indian government plans to reduce excise duty on small cars from 24 percent to 16 percent in an effort to make
India more attractive as a place to invest in the automobile industry.