India Set to Reach Steel Production Capacity of 300 Million Tonnes by 2030
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Synopsis
India aims to reach a steel production capacity of 300 million tonnes and per capita consumption of 160 kg by 2030, with significant investments and events planned to enhance its global competitiveness in the steel sector.
Key Takeaways
- India targets 300 million tonnes of steel production by 2030.
- Per capita steel consumption expected to reach 160 kg.
- Investment commitments in specialty steel exceed Rs 17,000 crore.
- ‘India Steel 2025’ event to enhance international collaboration.
- Prime Minister Modi to address the global conference.
New Delhi, April 20 (NationPress) India is on a path to achieve a steel production capacity of 300 million tonnes (MT) and a per capita consumption of 160 kg by 2030, according to government sources.
During the period of FY25 (from April to December), crude steel production reached 110.99 MT, while finished steel production hit 106.86 MT.
The production-linked incentive (PLI) scheme 1.1 for specialty steel has attracted investment commitments totaling Rs 17,000 crore in its second round, as reported by the government. The expansion of this scheme is anticipated to bolster India’s global competitiveness in specialty steel.
In alignment with this ambitious growth in the steel industry, the ‘India Steel 2025’ event is scheduled for next week in Mumbai, aimed at unlocking new avenues for inter-state and international collaboration, promoting knowledge sharing, and highlighting India’s policy reforms and infrastructure initiatives focused on improving the ease of doing business throughout the steel value chain.
Prime Minister Narendra Modi is set to address the global steel industry gathering via video conferencing on April 24.
The event will feature attendance from global industry leaders and senior foreign dignitaries leading high-level delegations, including the Deputy Minister of Industry and Trade of Russia, along with Ambassadors from Australia, Mozambique, and Mongolia, illustrating the strengthening international cooperation in the steel sector.
With over 12,000 business visitors, 250 exhibitors, and 1,200 conference delegates from various sectors including government departments, state governments, and international buyers, the conference is poised to be one of the largest steel events globally.
Country-specific sessions will involve key steel-producing nations such as South Korea, Sweden, Australia, and Mongolia. These discussions will delve into joint research, technology transfer, and resilient supply chains to de-risk India’s steel production and enhance global competitiveness.
A Reverse Buyer-Seller Meet will also be conducted to create trade opportunities and nurture new business relationships, according to the Ministry of Steel.
