Indian Metal Companies Focus on Domestic Growth

In a bold move to capitalize on growing domestic demand, major Indian metal companies including Vedanta, JSW Steel, Hindustan Zinc, and NALCO are planning significant expansions this fiscal year. This strategy comes despite the global trade headwinds and recent tariffs imposed by the US on metals.

Forecasted Growth in Steel and Aluminium Demand

The domestic steel demand is expected to grow by 10% annually over the next few years. Similarly, the aluminium demand is projected to grow at a CAGR of 7.2% until 2030, with experts predicting that India's aluminium demand will double every five years.

Strategic Moves Amid Global Challenges

These companies are not only betting on India's strong demand but also on the global race for critical minerals and strategic geographic diversification to fuel their growth.