India’s per capita steel consumption is lower than the world average and is one of the lowest in the world. This article aims to explain why India’s per capita steel consumption is so low and what factors are contributing to this.
Low Per Capita Steel Consumption in India
India’s per capita steel consumption is at around 66 kg per capita, which is significantly lower than the world average of 208 kg per capita. This is one of the lowest figures in the world and is a cause for concern for India’s steel industry. India’s steel consumption has grown significantly in the past decade, but it still lags behind global standards.
Reasons for Low Steel Consumption in India
One of the main reasons for low steel consumption in India is the low level of industrialization. India’s industrial sector is still very small and inefficient, and this has led to a low demand for steel. Additionally, India’s infrastructure is not well-developed and this has also hampered the demand for steel.
Another reason for low steel consumption in India is the lack of access to modern technology. India has only recently started to adopt modern technology and this has led to a low demand for steel. Additionally, India’s economy is largely based on agriculture, which does not require a large amount of steel.
Finally, India’s population is large and growing, and this has also led to a low demand for steel. India’s population is expected to reach 1.5 billion by 2050, and this will put a significant strain on the country’s resources.
In conclusion, India’s per capita steel consumption is low due to the low level of industrialization, lack of access to modern technology, and large population. The Indian government needs to focus on improving the country’s infrastructure and industrial capacity in order to increase the demand for steel and improve the economy.
