This Article First Appeared In Forbesindia On Jun 9, 2023
When we met in 2021, we were recovering from the disruption that China had caused to the global steel industry between 2014 and 2016. We were seeing a period where steel prices were stabilising at higher levels. We had also crossed the Delta phase of Covid pandemic.
So at the time we would’ve been quite positive about a post-Covid recovery. Governments across the world were spending a lot of money on this and India had also started spending more and more on infrastructure, which was good. As the budgetary allocation increased, the on-ground spend followed.