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India targets 300 MT steel production capacity by 2030.
Focus on sustainability, policy support, and infrastructure growth.
Aligned with ‘Make in India’ and National Steel Policy goals.
India is on track to reach a steel production capacity of 300 million tonnes (MT) by the year 2030, according to the Ministry of Steel. This ambitious target aligns with the National Steel Policy 2017, which envisioned enhanced domestic capacity to meet rising demand across infrastructure, automotive, and real estate sectors.
As of FY 2024–25, India’s current steel production capacity stands at approximately 160–170 MT, with crude steel output reaching 133 MT in FY24. To bridge the gap, the government is encouraging investments in greenfield and brownfield projects, improving ease of doing business, and facilitating raw material security through policy reforms.
Union Minister of Steel Jyotiraditya Scindia stated that "sustainable and self-reliant growth in steel production will be the cornerstone of India’s manufacturing ambitions under the ‘Make in India’ initiative." He also emphasized the role of scrap-based production and low-emission technologies in achieving this growth sustainably.
Analysts suggest that achieving 300 MT will not only strengthen India’s position as the second-largest steel producer globally, but also reduce dependence on imports and create substantial employment opportunities.
Also Read : Budget 2024 Highlights: India has seen three consecutive years of 7% GDP growth, says FM Sitharaman in post-Budget briefing India's thermal coal imports projected to decline for the first time since pandemic
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