The steel industry is a key contributor to India’s economic development and industrial growth. Policy reforms introduced in the 1990s positioned India among the top global steel producers, supported by ongoing initiatives such as the National Steel Policy and the Green Steel Taxonomy.

India is currently the second-largest steel producer, contributing about 2% to GDP. The sector has strong economic linkages, with each USD 1 of value added generating an estimated USD 5 across related industries.

Crude steel capacity is approximately 200 MTPA, with utilization near 76%. Per-capita consumption has risen from 60.8 kg in FY2015 to 98 kg in FY2024, still below the global average of 215 kg, indicating significant room for demand growth.

Projections show crude steel capacity reaching around 612 MTPA by 2050, underscoring the need for sustained investment and competitiveness improvements.

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