India to have surplus steel by 12
India's steel production is likely to surpass the domestic requirement by 2011-12, easing pressure on prices of the alloy, which has been adding to the spiralling inflation. "We shall achieve 124 million tonnes of steel capacity by 2011-12, well exceeding the requirement that would be to the tune of about 110 million tonnes at that point of time,' steel minister Ram Vilas Paswan said.