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India defies world losses with steel output growth

Country's steel groups target record output in 2016 and aim to nearly triple capacity over the next decade

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Steel companies expect demand in the country to grow at about quadruple the current rate as the government makes huge investments in infrastructure, including US$44 billion pledged for this year.

Mumbai

AT A TIME when a surplus is forcing steel mills to close around the world, India's debt-laden producers are ramping up to supply more of the metal than ever.

Steel Authority of India, Tata Steel and JSW Steel - which all posted losses last year - are targeting record output

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