The Indian iron and steel industry has gradually evolved through continuous modernization with state-of-the-art steel mills providing higher energy efficiency levels. The iron and steel sector has been a major contributor to India’s manufacturing output. The growth in the Indian steel sector has been driven by domestic availability of raw materials such as iron ore and cost-effective labour.
The Indian steel is currently the world's third largest producer of crude steel. The Short Range Outlook of the World Steel Association (world steel) projected that with global steel demand reaching 1,657.9 million tons in 2018, (an increase of 3.9% over 2017), for year 2019, it is forecasted that global steel demand will grow by 1.4% reaching to 1,681.2 million tons. According to Ministry of Mines, India has the 7th largest bauxite reserves- around 2,908.85 million tons in FY17. Infrastructure projects continue to provide lucrative business opportunities for steel, zinc and aluminium producers. Aluminium production stood at 1.60 million metric tons during Apr-Sept 2017 and is forecasted to grow to 3.33 million tons in FY20.
Biz Bridge 2019 is also focusing on the Metal sector, providing lucrative opportunities to release new products in the market, create brand image, establish relationships with customers and appointing new agents. It will also highlight on new growth drivers, revolutionizing the Indian iron and steel industry and creating awareness about the latest products, technology and services. The exhibition will attempt to deliberate on creating a roadmap that will ignite the next phase of growth for India’s metal and metallurgy sector. This will give an opportunity to sectors of the metal and metallurgy industry to proactively engage with each other on the latest innovation, technology and development.