Overview

• Prime Minister Narendra Modi reaffirmed the goal of achieving 300 million tonnes of steel production capacity by 2030 and 500 million tonnes in exports by 2047.
• Commerce Minister Piyush Goyal announced a 12% safeguard duty to protect the domestic steel industry and urged steelmakers to prioritize Indian suppliers over imports.
• The government is mapping mines and steel units to improve multi-modal connectivity and reduce operational costs, with a focus on infrastructure upgrades in eastern India.
• Modi emphasized the adoption of future-ready technologies, including AI, automation, coal gasification, and recycling, to enhance sustainability and global competitiveness.
• India's strategy includes exploiting unused greenfield mines and securing raw materials like nickel, coking coal, and manganese through strengthened global partnerships.