India Plans To Nearly Triple Steel Capacity To 600 Million Tonnes By 2047
India's new steel policy aims to increase steelmaking capacity to 600 million tonnes by 2047, providing a roadmap for the next two decades, Steel Secretary Sandeep Poundrik said on Tuesday. The draft policy, reviewed by Reuters, is expected to be released in the public domain soon. It also proposes measures to reduce emissions from the sector and strengthen access to key raw materials such as…
The Indian government is set to nearly triple its steelmaking capacity to 600 million tonnes by 2047, as per the new draft policy. This ambitious target forms the backbone of a comprehensive two-decade plan for the sector. The policy, expected to be released soon, also aims to cut emissions and improve access to essential raw materials.
As of fiscal 2026, India's steelmaking capacity was at 220 million tonnes. China was the largest exporter of steel to India during the April-August period, accounting for 31.8% of the 3.5 million tonnes imported. The draft policy also highlights measures to lower carbon emissions, targeting an average intensity of 1.54 tonnes of carbon dioxide per tonne of crude steel by 2047, down from the current 2.54 tonnes.
This aligns with India's goal of achieving net-zero emissions by 2070. The government plans to secure iron ore and coking coal supplies through strategic global outreach and investments in overseas assets to meet the projected demand.
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