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India is working on a new national steel policy that could reshape the country’s steel industry with a stronger focus on green steel, speciality steel, stainless steel and import substitution. The updated framework is expected to set fresh production targets for 2035 and 2047 as the sector moves beyond capacity expansion toward high-value, sustainable steel products.
The policy review comes as India’s steelmaking capacity has reached around 220 million tonnes per annum, bringing the industry closer to the earlier 300 million tonnes target for 2030-31. Domestic crude steel production and finished steel consumption have also shown strong growth, reflecting rising demand from infrastructure, manufacturing and construction sectors.
Alongside this, the government is also working on a revised steel scrapping policy to strengthen recycling infrastructure and reduce dependence on imported scrap. Industry players expect clearer guidelines for recycling clusters, collection centres and organised scrap processing.For India’s steel market, the move signals a shift toward cleaner production, premium grades and stronger domestic supply chains, creating new opportunities for manufacturers, recyclers and steel consumers.
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