India to become world's 2nd largest steel producer by 2015

New Delhi : India is expected to become the world's second-largest producer of crude steel by 2015, riding on expansion plans of domestic players like Steel Authority of India (SAIL) and Rashtriya Ispat Nigam (RINL), the government said today.

Chairing a meeting of the Parliamentary Consultative Committee, Steel Minister Beni Prasad Verma said annual demand for steel is likely to grow at an average of over 10% in the next five years as compared to 8% growth during 1991-92 and 2010-11.