The Steel Minister Mr. Vir Bhadra Singh said that Indian Steel Industry is showing signs of recovery from the economic melt down due to stimulus package given to the industry by the centre. Speaking at a seminar on "Vision of India's Steel industry 2012 organized by the Merchant Chamber of Commerce in Kolkata today, Mr. Singh said that during the last six months demand for steel in India increased at about 7 per cent rate. Production in the country has showed increase of 4 to 5 per cent during the period. The Minister said that the centre has fixed a target of steel production at 124 million ton by next three years.