India plans to more than double its steelmaking capacity to over 600 million tons by 2047 under a new national steel policy that will set out a roadmap for the sector for the next two decades, the Steel Secretary Sandeep Poundrik said on Tuesday.
The draft policy will probably be released for stakeholders to comment on in about a week, Poundrik told an industry event.
The policy targets over 500 million tons of steel consumption by 2047 and approximately 45 million tons is likely to be exports either directly or through steel embedded in manufactured products, Business Standard reported.
“These are conservative numbers,” said Poundrik.
India’s crude steel capacity was around 220 million ton in fiscal 2025 and the government expects it to reach 294 million ton by fiscal 2031, he said.
It will also include the issues of decarbonization, technology upgrades and availability of raw materials, with measures planned to discourage cheap and substandard imports.
The government is planning a ₹5,000-crore scheme for small steel producers, with incentives linked to production and reduction of carbon emissions.
