Continuing from the previous blog, we will be taking a close look at how TMT bars changed Indian construction sector. One of the huge factors which not many discuss is that India is itself a source of cheap and high-quality TMT bars. The steel industry has always one of the successful heavy engineering sectors in India. This meant that India always had a steady supply of TMT bars no matter the situation in the markets.
India is one of the fastest growing economies, this means that construction sites are very common in India. From small-scale structures to massive infrastructure projects, India has rapidly increased its rate of urbanization from 11% in the late 1940s to 31% in 2018. This push towards to urbanization has been helped by many different factors, the government’s willingness to invest in infrastructure has been one of the important factors in this push. The real estate and the construction also helped this vision by actively taking part in this urbanization plan.