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India Targets 600 Million Tons of Steel Capacity by 2047
India wants to greatly expand its steel industry over the next two decades.
A draft government policy sets a goal of producing enough steelmaking capacity for 600 million metric tons by 2047.
India currently has about 220 million tons of capacity.
The plan also says steel factories should create less pollution.
It aims to lower emissions per ton of steel by 2047.
India needs more iron ore and coking coal to reach its goals.
The government plans to seek supplies through overseas investments and partnerships.
India has recently imported more finished steel, with China supplying the largest share.
Officials also say higher demand and costly raw materials may push steel prices higher.
India’s draft steel policy targets 600 million metric tons of capacity by 2047, up from 220 million tons in fiscal 2026.
The policy aims to reduce average carbon emissions from 2.54 to about 1.54 tons of carbon dioxide per ton of crude steel by 2047.
India plans to secure iron ore and coking coal through foreign assets and joint ventures.
India imported 3.5 million tons of finished steel from April through August, a 29.5% increase from a year earlier.
The policy identifies raw-material access and exports as major challenges amid rising global trade barriers.
- Who
- India’s Ministry of Steel and steel secretary Sandeep Poundrik are associated with the draft policy.
- What
- India is planning a steel policy targeting 600 million metric tons of steelmaking capacity by 2047 while reducing emissions.
- Where
- India, with proposed efforts to secure raw materials through foreign assets and joint ventures.
- When
- The policy is intended to guide the next two decades and is expected to be released publicly soon; the import figures cover April through August.
- Why
- To meet anticipated steel demand, improve access to iron ore and coking coal, address export challenges, and support emissions reductions aligned with India’s 2070 net-zero goal.
Key facts
- Capacity target
- 600 million metric tons of steelmaking capacity by 2047
- Current capacity
- 220 million tons in fiscal 2026
- Emissions target
- Reduce average intensity from 2.54 to about 1.54 tons of carbon dioxide per ton of crude steel by 2047
- Projected iron ore demand
- 772 million tons
- Recent finished-steel imports
- 3.5 million tons from April through August, up 29.5% year over year
- Largest import source
- China supplied 31.8% of India’s finished-steel imports during that period
- Net-zero alignment
- The emissions goal is described as being in line with India’s 2070 net-zero emissions goal
Sources
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