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India is gearing up to massively expand its steel production capacity, targeting 300 million tonnes (Mt) by 2030 and 400 Mt by 2035. This growth push is fueled by a surge in domestic demand, which has been rising at over 12% annually for the last three years.
Driven by infrastructure projects, real estate, and manufacturing, the steel sector is at the heart of India’s economic ambitions. To meet the projected demand, the government estimates that nearly $200 billion in capital investment will be needed over the next decade.
Currently, India produces around 151 Mt of crude steel annually, with an installed capacity of about 200 Mt. However, the gap between current capacity and future targets underscores the urgency for investment and innovation.
Officials have also raised concerns about rising imports of low-quality steel products that don’t meet Indian standards. To protect local producers and ensure fair competition, the government plans to tighten quality norms for imported intermediate steel goods starting mid-2025.
India's steel strategy also includes securing critical raw materials like coking coal and high-grade iron ore, much of which is still imported. Ensuring a stable supply chain will be key to sustaining long-term growth.
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