India's Port traffic accelerates 6.6% in January 2025, Steel consumption up 5.8%

The Reserve Bank of India (RBI), stated in its monthly update that India's Port traffic increased from 3.4% in December 2024 to 6.6% in January 2025, driven by fertilisers, containerised cargo, and other miscellaneous cargo. In the construction sector, steel consumption growth accelerated to 5.8% (y-o-y) in January while the cement production levels reached a nine-month high, growing by 4% in December.