Steel consumption in India on rise

Till date almost all indicators were giving me pessimistic results. In the month of Feb 2009, the Industrial Production again shrank. However today I got this news:

Steel consumption in the country rose 3.8 percent and production increased 1.2 percent in the last quarter, Steel Secretary Pramod Rastogi said at the conference. Rural housing and infrastructure will continue to boost demand, he said.

This is probably the first credible indicator that suggests that the worst is probably over for India. Now its time for me to further boost the country’s GDP by drinking a mug of Beer

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4 thoughts on “Steel consumption in India on rise

  1. The increase in steel consumption in India is just a small blip, according to me. The world over, the steel demand has fallen by an average of 30%. And India is not at all insulated from the outside world, as was believed.

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  2. steel consumption is an important indicator esp for a developing country that is trying to build a modern infrastructure.
    but what u say is exactly my point 🙂 the industrial production is shrinking, rupee getting devalued etc. etc. the steel indicator is the only credible indicator that is is giving me any positive hope.

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