India to become 2nd largest steel producer by 2015

India is expected to become the world's second largest producer of crude steel by 2015, riding on expansion plans of domestic players like SAIL and Rashtriya Ispat Nigam (RINL), the government said today.

Chairing a meeting of the Parliamentary Consultative Committee, Steel Minister Beni Prasad Verma said annual demand for steel is likely to grow at an average of over 10% in the next five years as compared to 8 per cent growth during 1991-92 and 2010-11.

India slipped one rank to become the fourth largest steel producer in 2010, with 68.3 million tonne (MT) of output. It produced 63.5 MT steel in 2009.

China is the number one producer of steel, followed by Japan and the US at second and third places, respectively.

"India also maintained its lead position as the world