By NSB.News
RINL, the corporate entity of the Visakhapatnam Steel Plant, joined the nation in celebrating the 78th Independence Day with great patriotic fervor at the Trishna Grounds of the steel plant in Visakhapatnam today.
Sri Atul Bhatt, Chairman and Managing Director (CMD) of RINL, hoisted the National Flag, received the salute from CISF Jawans, and inspected the parade contingent. In his address to employees, their families, CISF personnel, Home Guards, suppliers, customers, partners, and stakeholders, Sri Bhatt extended warm Independence Day greetings.
Sri Bhatt provided insights into global and domestic economic trends, noting that advanced economies are anticipated to experience a slight acceleration in growth from 1.6% in 2023 to 1.7% in 2024. He highlighted the Reserve Bank of India’s projection of a 7.2% real GDP growth for India during 2024-25.
World Steel forecasts a 1.7% increase in global steel demand this year, reaching 1,793 million tonnes, with further growth of 1.2% expected in 2025. India is identified as a major driver of steel demand, with an anticipated 8% growth in steel demand over 2024 and 2025, fueled by ongoing infrastructure investments and growth in steel-using sectors.