India's Steel Future: Ambitions and Challenges

To avoid dependency on imports, India must significantly bolster its steel-making capacity, according to Steel Secretary Sandeep Poundrik. With global demand slumping and overcapacity issues, expanding domestic capacity by 100 MT by 2030 is crucial. The National Steel Policy aims for a 300 MT capacity by 2030, emphasizing competitiveness and green production.

India must add 100 million tonnes (MT) of steel capacity by 2030 to prevent reliance on imports, announced Steel Secretary Sandeep Poundrik.

Poundrik highlighted global slumps in steel demand and overproduction as challenges affecting India's domestic industry. The remarks were made during an Indian Chamber of Commerce event in New Delhi.

Currently, India hosts 200 MT in steel capacity, with 20 MT added this year. Under the National Steel Policy 2017, India's steel capacity target is 300 MT by 2030. Domestic price competitiveness and shifting to green manufacturing are also priorities to maintain industry leadership.

(With inputs from agencies.)