NE BUSINESS BUREAU
NEW DELHI, JUNE 19:
As ArcelorMittal approaches its landmark 20th anniversary on July 31, Executive Chairman Lakshmi Mittal has reflected on two decades of transformative leadership that reshaped the global steel landscape, emphasising that the next major growth story belongs to India.
Delivering a video message at the World Steel Dynamics Global Steel Dynamics Forum 2026 in New York, Mittal said the company’s journey over the past two decades demonstrates how scale, diversification and strategic resilience enabled it to navigate some of the world’s most severe economic and industrial disruptions.
- Two decades after creating the world’s largest steelmaker, Lakshmi Mittal reflects on resilience, transformation and strategic scale that helped ArcelorMittal weather global crises
- Executive Chairman says India is poised to become the next engine of global steel demand through infrastructure expansion, urbanisation and the clean energy transition
- Company’s diversified footprint and global reach enabled it to withstand the financial crisis, pandemic disruptions and changing geopolitical realities
- Steel industry has evolved into a faster, technology-driven and data-intensive ecosystem since the landmark 2006 merger
- Emerging economies, industrial policy and infrastructure renewal are expected to underpin long-term growth prospects for the sector
- Ahead of ArcelorMittal’s 20th anniversary on July 31, Mittal reiterates confidence in steel’s enduring role in global development
Looking ahead, he identified India as the principal driver of the next phase of global steel consumption.
“The last 20 years has been characterized by China’s remarkable growth. Now it is India’s turn, with massive infrastructure expansion, rapid urban housing growth, and energy transition infrastructure all on the cards.”
His remarks come as India continues to invest heavily in highways, railways, smart cities, renewable energy infrastructure and manufacturing capacity, creating unprecedented opportunities for steel producers.
Recalling the historic merger between Mittal Steel and Arcelor in 2006, Mittal said the integration created a stronger organisation capable of withstanding unpredictable global shocks.
“If I look back over the 20 years, I genuinely believe that the merger did indeed create a stronger company, benefiting from greater scale, diversification, resilience and strategic reach. Clearly – as is always the way – there have been events we did not anticipate. The aftershocks of the Global Financial Crisis are still with us, and the fallout from COVID has been similarly dramatic. I am adamant though that we navigated these shocks better together than we could have done separately.”
Mittal observed that the steel industry has undergone a profound transformation over the past two decades, becoming increasingly interconnected, technology-driven and data-oriented.
“Operating in 2026 is obviously very different to 2006. Today markets move faster, competition is more global, technology changes constantly, and companies are expected to adapt in real time. Even traditional industries like ours operate in a faster, more global, more data-driven, and more environmentally constrained world than they did in 2006.”
Despite increasing complexity and volatility, he expressed unwavering optimism about the industry’s future.
“There are plenty of reasons to remain optimistic and excited about the future. I have no doubt that we will continue to face plenty of challenges and unexpected events. But honestly, I can say that after 50 years in the steel industry, there is no place I would rather be.”
Reflecting on the company’s journey ahead of its 20th anniversary celebrations, Mittal underscored that ArcelorMittal’s global scale and diversified operations have strengthened its ability to adapt to financial upheavals, pandemic disruptions and evolving geopolitical realities.
He also pointed to the long-term fundamentals supporting steel demand, including infrastructure renewal across developed economies, rapid industrialisation in emerging markets, the global energy transition and the growing importance of domestic industrial policies aimed at strengthening manufacturing competitiveness.
As ArcelorMittal enters its third decade, Mittal’s message presents a vision of a company that has evolved through adversity while positioning India at the heart of the next global steel growth cycle.
