
India must enhance its steel-making capacity by 100 million tonnes (MT) by 2030 to avoid dependence on imports, according to Steel Secretary Sandeep Poundrik. Speaking at an event hosted by the Indian Chamber of Commerce (ICC) in New Delhi, he addressed concerns about global overcapacity and sluggish demand affecting the domestic steel industry. Currently, India has an installed steel capacity of approximately 200 MT, with an additional 20 MT incorporated in 2022-23. To align with the National Steel Policy (NSP) 2017, the country must reach 300 MT by the decade’s end to meet future demands.
Poundrik highlighted the necessity of ensuring that India’s steel sector remains competitive, especially given stagnant consumption in major economies like China, the USA, and Europe. Maintaining competitive domestic pricing is vital for sustainable growth, allowing businesses to reinvest in expansion. He emphasized that profitability must be adequate to support further investments in capacity enhancement.
Furthermore, as the global steel market shifts toward sustainability, India must adapt by reducing carbon emissions in steel production. Transitioning to environmentally friendly manufacturing methods will not only help the country align with global standards but also position it as a leader in green steel production. By adopting these measures, India’s steel sector can secure long-term growth while reducing dependency on foreign imports.