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What's driving the sudden spurt in India's steel demand?

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Watch: What's driving the sudden spurt in India's steel demand?

The Indian Steel Association forecasts India's steel consumption to hit 86 million mt in the current fiscal year, 5.3% higher than its demand last year. Analysts, meanwhile, have revised production estimates in India from an initial forecast of 5%-6% to 6%-7% for the financial year ending March 2017.

In this video, associate editor Charlotte Rao looks at the the role of infrastructure projects, car manufacturing, and defense policy in driving India's steel market.