In the current fiscal, steel consumption is likely to grow by about five per cent due to the slowdown in demand from the real estate and automobile sectors, Tata Steel Managing Director HM Nerurkar has said in Delhi on September 24.
He added that India's steel consumption grew by just 3.3 per cent in last fiscal, the lowest in last three years. The consumption moved up by 5.5 per cent in 2011-12 and 9.9 per cent in 2010-11.
India's steel consumption grew by just 0.3 per cent to 30.34 million tonne in the first five months of the current fiscal. Leading industry body World Steel Association (WSA) has pegged India's steel demand growth at 5.9 per cent to 75.8 million tonne in 2013.