OREANDA-NEWS. October 18, 2011. In the light of the emerging importance of India and the country being the next growth area of the steel industry, the governing body of the Worldsteel Association representing 170 producers and accounting for 85% of world steel production, has decided to hold World Steel 46 in India in October 2012 from 8th to 12th October 2012.

In a glittering ceremony at the present conference being held at Paris; France from 10th - 13th October 2011, Shri CS Verma, Chairman, SAIL on behalf of the host country committee consisting of the 6 leading producers of India extended warm invitation to all the CEOs of leading steel producers to attend the conference in 2012 in Delhi.

Shri CS Verma commented that the Paris conference has been extremely thought provoking. The views expressed by the global steel barons would go a long way in making steel industry more sustainable, in the backdrop of the world economic uncertainties and volatilities in the recent past. He further added "The conference in New Delhi will give a glimpse of the rich heritage and culture of India."

The Indian Steel Industry has grown multi-fold, from a production of about 2 million tonnes of crude steel in 1950-51 to nearly 70 million tonnes in 2010-11. Indian economy has recorded an impressive GDP growth in the last few years. This financial year also, it is expected to be around 8.0%- 8.5%. A report released by World Steel Association (worldsteel) based on the just concluded conference forecast that apparent steel use will increase by 6.5% to 1,398 mmt in 2011, following growth of 15.1% in 2010. In 2012, it is forecast that world steel demand will grow further by 5.4%. WSA also projected that India's steel consumption is likely to grow by 4.3 % to reach 67.7 million tonnes due to economic growth. In 2012, the growth rate is forecast to accelerate to 7.9 %.

The member steel companies representing Host Country Committee in India include JSW Steel Ltd, Steel Authority of India Ltd, Rashtriya Ispat Nigam Ltd, Tata Steel Ltd, Essar Steel Ltd and JSW Ispat Steel Ltd. All these companies are top steel producers in the world.