25%contraction 'annualised' might not b too bad if it lasted only a quarter or so, ie (0.75) to power (1/4) or 0.9306 or 7% drop for a quarter

https://economictimes.indiatimes.com/industry/indl-goods/svs/steel/budget-2019-fm-proposes-exemption-on-customs-duty-on-inputs-for-making-steel-sheets/articleshow/70090614.cms?from=mdr

I read hindu steel production is the 2nd biggest @ 1/9 th that of china