Summary:

India's steel sector is poised for expansion, with a projected capacity increase of 20 million tonnes between FY25 and FY27. Demand from the automotive, real estate, and infrastructure sectors is driving an 8% growth in steel consumption, despite challenges such as margin pressures and increased imports from China and Vietnam. To protect domestic producers, India has raised tariffs. Environmental regulations and raw material instability continue to pose significant challenges for cost efficiency.

India's crude steel output grew from 109.1 million tonnes in 2019-20 to 144.3 million tonnes in 2023-24, reflecting a CAGR of 7.2%. Production capacity increased from 142.3 MTPA to 179.5 MTPA. Per capita steel consumption has doubled, rising from 59 kg in 2013-14 to 119 kg in 2022-23.

Source: IBEF 

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