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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

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.


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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