BHP Group and Rio Tinto are increasingly looking to India as the next major engine of growth for the global steel industry, highlighting how the world's largest iron ore producers are positioning themselves for a future in which China no longer dominates demand growth.
Senior executives from both mining giants said India's accelerating steel expansion, underpinned by rapid urbanisation and heavy infrastructure spending, could help cushion the impact of slowing growth in China, which has shaped global steel markets for more than two decades through its property-led boom.
