Europe, China should consider relocating excess steel capacity to India: Naveen Jindal

 Reuters        Last Updated: May 16, 2016  | 12:52 IST

European and Chinese steelmakers should consider relocating their excess capacity to India where demand is still increasing, the chairman of Jindal Steel and Power said on Monday.

India plans to almost double annual steel production capacity to 200 million tonnes by 2025, Naveen Jindal told a conference in Beijing. His own firm is planning to raise capacity from 8 million tonnes a year to 15 million tonnes in the next 2 to 3 years, he added.

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