Brief by Shorts91 Newsdesk / 03:46am on 30 May 2025,Friday Business
A recent Jefferies report highlights India's exceptional growth in the global steel sector, with a 33% increase in steel output from 2019 to 2024, contrasting a 1% global decline. The report attributes this to India's robust infrastructure development, rising domestic demand, and supportive government policies, including a 12% safeguard duty on flat steel imports introduced in April 2025. Jefferies projects an 8–10% compound annual growth rate (CAGR) in steel volumes for FY25–27. The firm has upgraded ratings for major Indian steel companies, such as Tata Steel and JSW Steel, citing strong fundamentals and growth prospects. (PC: ANI)
