The projected import of iron or non-alloy steel bars and rods, indented or twisted, to India shows a steady upward trend from 2024 to 2028, with a continuous increase in million kilograms each year. Compared to 2023's actual figures, this demonstrates consistent growth in imports. Year-on-year growth rates for these forecasts reveal an average increase of around 4% annually, indicating strong and stable demand over this period. The Compound Annual Growth Rate (CAGR) over the next five years showcases a robust expansion, reflecting a solid upward trajectory in import volumes.
Future trends to watch for include:
- The impact of global steel prices on imports.
- Government policies on infrastructure that could drive further demand.
- Technological advancements in domestic production potentially affecting import needs.
- Trade relationships impacting import costs and logistics efficiency.
