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The Ministry of Steel acknowledges sustained growth in the steel sector in India, treating it as a deregulated domain where the Government of India acts as a facilitator to create a conducive policy environment for its development. Several measures have been undertaken to align with the objectives outlined in the National Steel Policy 2017. These initiatives include:
Domestically Manufactured Iron & Steel Products (DMI&SP) Policy: Implemented to promote Made in India steel for government procurement.
Production-Linked Incentive (PLI) Scheme for Specialty Steel: Launched with an outlay of ₹6,322 crore to encourage the manufacturing of speciality steel within the country.
Make in India and PM Gati-shakti National Master Plan: Initiatives to engage with potential users in sectors like Railways, Defence, Petroleum and Natural Gas, Housing, Civil Aviation, Road Transport and Highways, Agriculture, and Rural Development. The aim is to enhance steel usage, and overall steel demand and attract investment in the steel sector.
Customs Duty Adjustments: Adaptations in Basic Customs Duty on steel products and raw materials, coupled with calibration of trade remedial measures on specific steel products to enhance the competitiveness of India’s steel sector.
Coordination for Raw Material Availability:
Collaborative efforts with Ministries, States, and other countries to facilitate the availability of raw material for steel making on more favourable terms.
Growth in Steel Production:
India has experienced consistent growth in steel production since 2019. Crude steel production data for the last five years (2018-19 to 2022-23) is as follows:
- 2018-19: 110.92 million tonnes (mt)
- 2019-20: 109.14 mt
- 2020-21: 103.54 mt
- 2021-22: 120.29 mt
- 2022-23: 127.20 mt
India also achieved the status of the world’s second-largest steel producer in 2018, surpassing Japan and has maintained this position since then. In Calendar Year 2022, the crude steel production by different countries was as follows:
- China: 1019.1 mt
- India: 125.4 mt
- Japan: 89.2 mt
- United States: 80.5 mt
- Russia: 71.7 mt
This information was provided by the Minister of State in the Ministry of Steel, Shri Faggan Singh Kulaste, in a written reply in the Rajya Sabha.
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