"The group (Nithia) envisions to create a consolidated steel operating platform of up to two million tonne of steel production per year in India through acquisition and organic growth. We have been looking at multiple steel acquisition opportunities in India over the last few years and we are confident that we will continue to grow and build further on the success of Uttam (Wardha Steel)."
-- Jai Saraf, founder &
CEO, Nithia Capital
On future outlook of
business in India
For the last 100 years, steel has prospered the world economically, physically and socially. It is expected to take that forward for the next 100. Steel is used in every important industry -- energy, construction, automotive and transportation, infrastructure, packaging and machinery.
Average world steel use per capita has steadily increased from 150kg in 2001 to around 230 kg in 2019, making the world more prosperous. By 2050, steel use will increase by 20% to meet the needs of our growing global population led by emerging markets. (Sources: WSA;)
Both the developed world and the emerging markets are equally at race to advance in steel consumption and production.
Nithia is already a step ahead. With strategic investments and major turnaround experience globally, the focus has now turned to India, one of the region’s most promising economies. Nithia has made an investment of US $300 mn and is looking to close several more deals by the turn of the year. We continue to look opportunistically at other emerging markets while we build the Indian platform.