New Delhi, April 28 -- Domestic steel consumption in India is projected to grow at a compound annual growth rate (CAGR) of approximately 6.8 per cent through to FY32E compared to the levels recorded in FY23.

According to a report by Goldman Sachs, the industry is transitioning after a period of rapid acceleration. The report noted that following four successive years of double-digit growth in steel consumption, growth is expected to moderate to 6-7 per cent from FY26E on a higher base.

"We expect domestic steel consumption to grow at a ~6.8% CAGR through to FY32E compared to the FY23 level. Following four successive years of double-digit growth in steel consumption, we expect growth to moderate to 6-7% from FY26E on a higher base," the ...