New Delhi: India is set to pip Japan to become the world's second largest steel producer by December this year, an official of Indian Institute of Metals (IIM) said.
"India is likely to leave Japan behind and become world's second largest steel producer by December 2016," IIM Delhi Chapter Chairman K L Mehrotra said in statement.
However, what needs to be deliberated is will it be the greenfield or brownfield projects that will help India achieve the ambitious 300 million tonnes target, added Malhotra, who has also served as chairman and managing director of state-run manganese miner MOIL.
"Not to forget the steel for strategic sector -- defence production, including naval warships, frigates, nuclear reactors and ISRO's space vehicles. India seems to be importing almost of all this special requirement as of now," he added.