Rising demand for steel is being driven by firm infrastructure policies ranging from housing construction, railways to aviation. India’s Finance Ministry has announced plans to spend US$134bn in FY2024-25, up 11% on-year. India’s economy is expanding at about 6-7% a year, driven by a large and youthful demographic and new reforms. The country’s consumer market is set to become the world’s third largest by 2027.  The re-election of Indian Prime Minister Modi for a third term will spur the development of steel projects in line with the country’s existing infrastructure development plans. However, with a lack of majority seats, the new government has become dependent on allies and is bound to have a more consultative approach to reach unification on policies.