Machine Industries — capacity expansion

Higher cost of funds denting steel industry’s capacity expansion: Kearney India’s steel industry had targeted a capacity of 180 to 190 MTPA by 2024–2025 and 300 MTPA by 2030. Prior to the Covid-19 outbreak, 10 MT of steel capacity was expected to come on board in the second half of this fiscal year. For India to create a globally competitive steel industry, global consultancy firm Kearney, formerly A T Kearney, has prescribed a wider and deeper government role. While it has flagged the need for a financial stimulus and suggested that the industry should seek concessional interest rate from the government...