Summary:

The Indian government predicts an 8% growth in steel consumption between 2024 and 2025, driven by ongoing infrastructure projects. Since 2021, India has been a key player in global steel demand and produced 72.4 million tonnes in early 2025, up from 68.5 million tonnes the previous year. Per capita consumption rose from 59 kg in 2013-14 to 119 kg by 2022-23.

In 2023, India became the world’s second-largest steel producer with 140.2 million tonnes. The nation’s steel production capacity is projected to reach 300 million tonnes by 2030 and 500 million tonnes by 2047. This expansion, fueled by increased government spending and urbanization, is supported by the DMI&SP Policy and the PLI Scheme for Specialty Steel.

Source: IBEF

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