Vikram Amin, Executive Director, Essar Steel,expects steel supply to exceed demand in next few years.   
 
 This is because steel demand has not kept pace with the capacity addition. The slowdown in government's infrastructure spends and high interest rates have spooked steel demand.
 
 Meanwhile, he said the steel industry is expecting the government to ensure that the required raw materials such as iron ore and coking coal are made available.
 
 The Supreme Court has recently banned iron ore mining in Karnataka, leading to sharp spike in prices. The Goa Government has also issued show cause notice to iron ore miners seeking clarification on production front. 
 
 Essar Steel plans to add capacity through expansion of existing capacity (brownfield projects) as against fresh capacity (Greenfield expansion). These projects are awaiting clearances from various ministries.
 
 Amin said the country will emerge the second largest steel producer overtaking Japan and the US by 2016.