According to recently released data, India has become the second largest producer of steel in the world.

Daily Current Affairs / According to recently released data, India has become the second largest producer of steel in the world.

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Category : Business and economics Published on: January 01 2024

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According to the data released in December 2023, India has become the second largest producer of steel in the world.
Crude steel production was 125.32 million tonnes in FY 2023.
During this period, 121.29 metric tons of steel was produced.
India is likely to produce 435 metric tons by the year 2050.
Steel is an important sector for the Indian economy, contributing to the country's GDP in FY 21-22. Holds 2% share.
At present China is the largest steel producing country in the world.