Overview

• India aims to increase steel production capacity to 300 million tonnes by 2030, with per capita consumption rising to 160 kg from the current 98 kg.
• PM Modi announced an export target of 500 million tonnes by 2047, positioning India as a global leader in steel supply.
• The government is urging the industry to extract iron ore from unused greenfield mines and reduce dependence on imported raw materials like nickel and coking coal.
• Technological advancements, including low-emission, energy-efficient processes, AI, automation, and recycling, are central to the sector's modernization efforts.
• The steel sector is expected to play a critical role in India’s $1.3 trillion infrastructure pipeline and flagship initiatives like Smart Cities and PM Awas Yojana.