India’s crude steel industry is on a critical growth path as it aims to meet the government’s ambitious target of 300 million metric tonnes by 2030. A recent report by HDFC Securities highlights the need for an 8% compounded annual growth rate to achieve this goal. As of the end of the financial year 2023-24, the nation’s crude steel capacity was 180 million metric tonnes, marking an 11% increase from the previous year.
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