Steel demand in India has picked up and is better than that in other countries, especially when it comes to specialised steel for the auto sector. 
India seems to be the hot favourite. After ArcelorMittal joined hands with Uttam Galva, NMDC, India’s biggest iron-ore miner, seeks a partner for its new specialised steel plant in Karnataka. 
Rana Som, CMD of NMDC, controls the biggest iron-ore producing public sector enterprise in the country, but after his success of forward integration by setting up steel mill in Chhattisgarh, his plans to replicate the mill in Karnataka are finally materialising and he is now looking for a partner for the new plant. 
Som said that he will invest Rs 10,000 crore and is looking for a joint venture partner for the project. 
But this will be no run of the mill. NMDC's mill will be a specialised steel-making unit catering exclusively to the automotive industry, which consumes 70-80 per cent of flat steel produced in India. 
Meanwhile, the iron-ore miner plans to part fund its new project through debt and on the raw material side it has started tie-up iron- ore supplies. 
India is the world's fastest growing car market and so is its steel sector, the World Steel Association's forecast about growth of steel sector being two per cent as compared to negative growth. But in other countries, it is based on the fact that apart from infrastructure sector, most of the demand would come from auto makers, a sign of sure shot jackpot for new entrants like NMDC.