The Indian government committee of experts have reviewed the statistical figures of steel industry and found under-reporting of many figures due to missing data. They have revised upward the Indian crude steel output in 2006 to 49.45 million tonnes, making India the world's fifth largest steel producer, ahead of Korea and Germany. The recent figures reported by the ministry for April 2005-March 2006 and April 2006-March 2007 show an increase of crude steel production of 9% y-o-y from 46.57 million tonnes to 50.72 million tonnes. This represents a 89.8% capacity utilization in 2006-07, a slightly decline from the 90.8% registered in the previous year.
Finished steel output surged 11.5% y-o-y to reach at 51.91 million tonnes for the period 2006-07. Finished steel consumption for the same period was 46.14 million tonnes, an increase of 11.4% y-o-y.