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Steel Secretary Sandeep Poundrik said depressed global steel prices, volatile raw-material costs and slow operationalisation of new iron-ore mines are pressuring India’s steel industry, with smaller producers hit the hardest as domestic prices hover near five-year lows.
He outlined India’s capacity needs at ~100 million tonnes (MT) in the next 5–10 years, plus another ~100 MT in the subsequent 5–7 years—an expansion that could require about $100 billion for the first 100 MT. While iron ore resources are ample, delays in starting new mines are constraining raw-material security just as mills plan expansions.
Countering the view that the sector is highly concentrated, Poundrik noted that ~47% of India’s steel output comes from around 2,200 producers, underscoring the need for policies that reflect a fragmented ecosystem. The ministry’s near-term focus, he said, is on speeding mine openings, ensuring stable input availability, and facilitating capital formation, so producers can navigate weak prices while executing planned capacity additions.
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