By 2030 India is on the verge of emerging as the world’s third-largest economy.

The country, which is the world’s second-largest steel-producing, is set to achieve significant growth by 2030, supported by strong economic development. ‎

‎ According to Iran Steel, India’s steel demand is expected to increase mainly by the construction and infrastructure sectors, which will account for 60-65% of the total steel demand. Factors such as urbanization, housing projects, and large infrastructure projects will increase demand. ‎

‎ As India uses nearly 80-85% of its production capacity, the country’s crude steel production is expected to increase from 144 million tons in the current fiscal year to 210 million tons by 2030. As a result, India’s iron ore production and demand will both increase by more than 50%.‎