In an interview with ET Now, CS Verma, Chairman & Managing Director, SAIL, talks about the company's FPO plan, steel industry and different factors associated with the industry. Excerpts:
ET Now: Let's talk about the current environment, demand versus pricing scenario for the entire steel industry?
CS Verma: Demand of steel in India is going up. If you see the data for April to January this year, the real consumption has been somewhere about 46 million tonnes and there is a growth of about 8%. If you see the spend of our country on the 11th five-year plan, which is roughly about $512 billion, that is going to be about $1 trillion in the 12th five-year plan , which is roughly about 10% of GDP. So all these factors indicate that our economy is on a move and we are expecting a GDP growth of about 8.5-9% and thus a lot of things are happening in the economy.
ET Now: Let's talk about the current environment, demand versus pricing scenario for the entire steel industry?
CS Verma: Demand of steel in India is going up. If you see the data for April to January this year, the real consumption has been somewhere about 46 million tonnes and there is a growth of about 8%. If you see the spend of our country on the 11th five-year plan, which is roughly about $512 billion, that is going to be about $1 trillion in the 12th five-year plan , which is roughly about 10% of GDP. So all these factors indicate that our economy is on a move and we are expecting a GDP growth of about 8.5-9% and thus a lot of things are happening in the economy.
