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Economy

India plans to boost infrastructure spending to help spur steel demand

Tata Steel, JSW may benefit even as ArcelorMittal enters India market

Increased spending on new infrastructure projects is expected to boost steel consumption as Asia’s third largest economy contends with a demand slowdown that has cast a shadow over local steel makers such as Tata Steel and JSW.

MUMBAI (NewsRise) -- India is considering a raft of measures, including increased spending on new infrastructure, to boost sagging domestic consumption of steel as Asia’s third-largest economy contends with a demand slowdown that has cast a shadow over alloy makers such as Tata Steel and JSW Steel. 

Officials at the steel ministry are set to meet their counterparts at the road ministry and the National Highways Authority of India next week to discuss new projects that envisage building 100 bridges using stainless steel, according to a top government official.  

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