India poised to drive next wave of global steel demand, says Lakshmi Mittal

Business To Business, New Delhi, 18^th June, 2026:   Lakshmi Mittal has projected that India will emerge as one of the world's most important drivers of steel demand in the coming decades, powered by rapid economic development, infrastructure expansion, urbanisation, and energy-transition investments.
Speaking ahead of the 20th anniversary of ArcelorMittal on July 31, Mittal told delegates at the World Steel Dynamics Global Steel Dynamics Forum 2026 in New York that the global steel industry is entering a new phase in which India could play a role similar to that played by China over the last two decades.

• The past 20 years of global steel growth were largely driven by China's industrialisation and infrastructure boom.
• India is now positioned to become the next major source of steel demand growth.
• Massive investments in roads, railways, ports, airports, housing, and industrial infrastructure are expected to increase steel consumption substantially.
• Rapid urbanisation and housing construction will create sustained long-term demand for steel products.
• Investments associated with the energy transition—including renewable energy, power transmission networks, electric mobility infrastructure, and green industrial projects—will require significant quantities of steel.

• Urban populations continue to grow.
• Manufacturing capacity increases.
• Infrastructure spending remains elevated.
• Energy and climate-related investments accelerate.

• Provide a major new source of demand.
• Encourage investment in domestic steel capacity.
• Strengthen supply chains for infrastructure and manufacturing projects.
• Support the development of greener steel technologies as sustainability requirements increase.