India's crude steel production increased 25 per cent year-on-year to 66.91 million tonne during April-October period of 2021-22, according to the Economic Survey.
The survey said that during the period, the country's output of finished steel registered a year-on-year (y-o-y) growth of 28.9 per cent to 62.37 MT, while the consumption of the same grew 25 per cent to 57.39 MT.
The Survey said "despite being hit by COVID-19, the steel industry has bounced back with cumulative production of crude and finished steel in 2021-22 (April-October) at 66.91 MT and 62.37 MT, an increase of 25.0 per cent and 28.9 per cent respectively over corresponding period last year."
With the economic recovery, the global demand for steel is slated to increase this year.
(With inputs from PTI)
