Lakshmi Mittal Sees India as ArcelorMittal’s Next Growth Engine
ArcelorMittal Executive Chairman Lakshmi Mittal has identified India as one of the company’s biggest long-term growth markets, saying the country’s current development mirrors China’s growth trajectory from 25 years ago. He said India’s steel industry has significant room to expand over the next 30 to 40 years, creating major opportunities for the global steelmaker.
The company is strengthening its presence in India by expanding its Gujarat steel plant, with plans to double its capacity from 8 million tonnes. CEO Aditya Mittal said the upgraded facility will become one of the world’s largest and most advanced coastal steel plants, reinforcing India’s role alongside Brazil and the United States as a key market for future growth.
Lakshmi Mittal also stressed the need for fair global competition, particularly amid rising Chinese competition, while highlighting artificial intelligence, robotics, and digitalisation as the future of steel manufacturing. ArcelorMittal plans to continue investing in innovation and advanced steel products to support the next phase of growth driven by India’s industrial expansion and evolving global demand.
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