India’s steel industry maintained its growth momentum during the first six months of fiscal year 2027, supported by robust domestic demand, according to figures released by the Ministry of Steel on October 26. Finished steel consumption climbed 7.6% year over year to 85 million tonnes between April and September. Crude steel production increased 2.9% to 85.1 million tonnes, while finished steel output advanced 4.1% to 82 million tonnes. In September alone, consumption reached 14.4 million tonnes, representing a 7.7% annual increase. India’s crude steel production capacity stood at 223 million tonnes annually.
The country’s alloy steel output rose 32% to 5.83 million tonnes during the period. Finished steel exports also strengthened, increasing 26.2% to 3.55 million tonnes. Export earnings climbed 28.9% to approximately $2.98 billion. The United Arab Emirates, Vietnam, and Italy emerged as the leading overseas destinations for Indian steel.
Looking ahead, the Ministry of Steel has drafted the National Steel Policy (Vision 2047), which proposes expanding crude steel capacity to 604 million tonnes, increasing annual per capita steel consumption to 302 kilograms, and raising exports to 45 million tonnes by 2047. The strategy also seeks to lower emissions intensity from 2.54 to approximately 1.54 tonnes of carbon dioxide per tonne of crude steel.
Meanwhile, MOIL Limited achieved its strongest first-half manganese ore production on record, reaching 0.96 million tonnes and surpassing its previous high of 0.943 million tonnes.
Progress toward sustainable manufacturing continued under the Green Steel Initiative, with 104 producers receiving Green Steel Certificates by October 2026. Most certified products earned five-star ratings. Additionally, NMDC and Steel Authority of India Limited established subsidiaries at GIFT City. NMDC Global IFSC Limited will provide an investment platform for overseas critical mineral projects.
