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India’s steel demand is projected to grow by 9% in FY 2025–26, driven by robust infrastructure expansion, housing development, and manufacturing growth, according to the Indian Steel Association (ISA).
The ISA’s latest forecast highlights continued momentum from government-led investments in roads, railways, and urban infrastructure under the Gati Shakti and Smart Cities Mission, along with strong private sector participation in construction and capital goods.
In FY 2024–25, India’s steel consumption rose nearly 8.5% year-on-year, and the upward trend is expected to continue as India remains the world’s fastest-growing steel market. The association also noted that higher spending on renewable energy, electric vehicles, and defence projects will boost demand for specialty steel.
Meanwhile, steel production is expected to rise by 7–8%, supported by capacity expansions from major players such as Tata Steel, JSW Steel, and AM/NS India.
Industry experts said India’s resilient economic growth, coupled with government focus on self-reliant manufacturing, will continue to drive domestic steel consumption despite global headwinds.
With this surge, India is set to strengthen its position as the second-largest steel consumer globally.
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