India's top steel producer JSW Steel Co., Ltd. said it is expanding its US and European markets to meet its international demand. JSW believes that domestic and foreign demand for steel is strong, and it is expected that the output of domestic steel mills in India will continue to increase.

“The good performance of the US economy is the main reason driving our investment. The investment cycle seems to be positive,” said joint general manager Seshagiri Rao in an interview. After achieving its overseas capacity of 10 million tons, steel manufacturer Rao said in Mumbai that it is now seeking to buy more production equipment.

Although the global industry has been hit by the levy of tariff steel by US President Donald Trump this year, the steel industry's prosperity index is still good. According to World Steel, global production hit another record in May as capacity utilization climbed.

In this context, the JSW business in Mumbai has been busy: the company announced that it will continue to invest $1 billion. The investment amount is mainly used to purchase equipment to expand production capacity. New equipment has been procured in Ohio, and the Texas facility will also purchase new equipment, which is expected to triple its capacity.

For Rao, business investment is transitional. "Our team has increased investment in the United States not because of tariff issues, mainly because the United States has adopted trade remedies, the US economy is quite active, and demand is picking up." He said on Tuesday.

Since last year, JSW Steel has gained more than 60%, and India's domestic steel production and profits have also reached new highs. To meet local demand in India, the company plans to invest $6 billion to expand capacity.