Business · Energy & Commodities · 7 hrs ago
India’s draft steel policy targets 604 million tonnes of capacity by 2047
India’s Ministry of Steel has proposed a draft policy to expand the country’s steel industry by 2047.
It targets crude steel capacity of 604 million tonnes and finished steel consumption of 505 million tonnes.
The draft also projects steel production of 531 million tonnes and exports of 45 million tonnes by then.
Meeting these goals will require much more iron ore and coking coal, while India currently imports nearly 92 per cent of the coking coal it uses.
The plan proposes more domestic mining, overseas acquisitions and long-term supply deals to improve access to raw materials.
It also aims to cut steelmaking emissions from 2.54 to 1.54 tonnes of carbon dioxide per tonne of crude steel, using measures including renewable energy, scrap and eventually green hydrogen.
The ministry has invited feedback from the industry on the draft policy.
India’s draft National Steel Policy — Vision 2047 targets crude steel capacity of 604 million tonnes by 2047, up from about 220 million tonnes currently.
The policy projects finished steel demand of 505 million tonnes and per capita consumption of 302 kg by 2047.
It also sets a steel export target of 45 million tonnes by 2047.
The draft aims to lower average emissions intensity from 2.54 to about 1.54 tonnes of carbon dioxide per tonne of crude steel by 2047.
It proposes securing raw materials, expanding domestic production and shifting the sector towards cleaner technology.
- Who
- India’s Ministry of Steel, which released the draft policy for public consultation.
- What
- The draft targets steel capacity of 604 million tonnes by 2047, alongside higher consumption and exports and lower emissions intensity.
- When
- Released late on Saturday, according to the articles; published on October 11, 2026.
- Where
- India.
- Why
- To meet projected steel demand, secure raw materials, expand domestic production and reduce the sector’s emissions.
This story does not have two clearly opposing sides.
The expansion is constrained by multiple regulatory clearances, land acquisition issues, local opposition, and the absence of a dedicated regulatory framework
slurry pipelines require significant water and face environmental concerns
India’s domestic crude steel production was about 89 million tonnes.
Domestic crude steel production had risen to about 170 million tonnes and finished steel consumption to 164 million tonnes.
The Ministry of Steel released the draft National Steel Policy — Vision 2047 for public consultation.
The draft projects crude steel capacity of 604 million tonnes and finished steel demand of 505 million tonnes.
- Current installed capacity
- About 220 million tonnes per annum
- Capacity target
- 604 million tonnes by 2047
- Finished steel demand projection
- 505 million tonnes by 2047
- Export target
- 45 million tonnes by 2047
- Emissions intensity target
- About 1.54 tonnes of carbon dioxide per tonne of crude steel by 2047
- Coking coal imports
- Nearly 92 per cent of India’s requirement
Sources
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