New Delhi, Sept. 26 -- The steel consumption in India, which has remained robust over the last three fiscal years, is set to move at an even faster pace in the coming years, buoyed by the government's continued focus on infrastructure expansion and rising construction activity, said domestic brokerage firm Axis Securities in its latest report, while lifting the valuations on major listed steel companies, including JSW Steel and Jindal Steel.

According to the brokerage, India remains uniquely positioned as the last major steel-intensive growth economy, with a strong 0.98 correlation between steel consumption and gross fixed capital formation (GFCF), a key proxy for investment activity.

Unlike global peers, where steel intensity has alrea...