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India's steel production reached new highs in the first eight months of the current fiscal year, according to data from the Ministry of Steel.
The country's finished steel output came in at 89.71 million tonnes from April to November 2023, up 14.3% increase from the same period last year.
Steel consumption also climbed, reaching 87.07 million tonnes over this period, a 14.9% jump year on year.
Crude steel production was up 14.7% to 94.11 million tonnes compared to 82.07 million tonnes in the year-ago period.
Imports of finished steel saw a 13.4% gain over April-November to 4.25 million tonnes versus 3.75 million tonnes a year earlier.
The ministry's figures highlight the robust performance of India's steel sector, which supports industries such as construction, infrastructure, automotive, engineering and defense.
The strong output cements India's position as the world's second largest steel producer globally. The data underscores the industry's resilience even amid a challenging macroeconomic environment both domestically and internationally.
(Writing by Alex Guo Editing by Harry Huo)
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