Marginal growth in demand expected in 2023: JSW Steel's Seshagiri Rao

The world economy is not growing in a robust manner so I don't expect a big turnaround in steel demand as seen in 2021, says Rao

JSW Steel reported an 88.75 per cent year-on-year drop in consolidated net profit in the third quarter of the financial year on the back of higher input cost and lower selling price. In an interview, Seshagiri Rao, joint managing director and group chief financial officer, JSW Steel, tells Ishita Ayan Dutt that domestic demand is strong and there are triggers for revival in sentiments from China in Q4 but a stubborn inflation in many economies may prevent any major growth in world steel demand. Edited excerpts:

Domestic demand is strong but a mild recession is expected in major global economies