Maharashtra clears 937 hectares for Gadchiroli steel expansion Steel stock surges 29% in just two days Steel output rises 14% to 9.25 MT Infrastructure boom fuels India’s steel consumption
The Union government has set an ambitious target of achieving 300 million tonnes of steel production capacity by 2030, Union Minister of State for Steel Bhupathiraju Srinivasa Varma announced on Monday. Addressing a gathering in Andhra Pradesh, the minister highlighted that the move aligns with India’s growing infrastructure and industrial requirements, particularly in sectors such as construction, automobiles, and energy.
He emphasized that India is currently the second-largest steel producer in the world and is steadily working towards enhancing capacity through modernization of existing plants, policy reforms, and support for green steel initiatives. The Centre’s vision is to make steel production more sustainable, competitive, and globally benchmarked, ensuring India emerges as a key hub in the global steel supply chain.
The minister also underlined the government’s focus on green steel technologies, use of renewable energy, and reduction of carbon emissions to meet international sustainability standards. He added that public and private sector players will play an equal role in reaching the milestone, with incentives and policy support from the Centre.
This initiative is expected to boost employment, attract investments, and contribute significantly to India’s GDP growth over the next five years.
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