Steel production capacities in India have gone up from just 14.23 mt in FY1992 to over 106.56 mt in 2018-19. And, as India moves towards a consumption-based economy, the demand for steel is bound to grow. The big question is: At what rate will the steel industry grow? The new steel policy envisages annual steel consumption at 300 mtpa by 2030, three times the current consumption of 100 mtpa. The consumption of rebars, currently estimated at about 24 mtpa and valued at about `1.2 trillion, is also expected to triple by 2030.“Steel capacities in India have gone up tremendously, from 14 mt in 1992 to 100 mt in 2018,” says Sanjay S Sahni, Chief of Marketing & Sales, Tata Steel. “And, we are further expecting a threefold jump from 100 mt to 300 mt in 2030.”Per-capita consumption of steel in India has increased from 56 kg to 68 kg in the past decade. This progression reflects the ~7 per cent growth in steel demand in the past couple of years. Domestic steel consumption is expected to grow by 7 per cent in FY2020, largely driven by the government’s focus on the infrastructure sector.According to Sanjay Agrawal, Senior Vice President-Sales & Marketing, JSW Steel, “As far as the government policy of 300 mt by 2030 is concerned, the industry is definitely prepared for it and is making investments to achieve this goal.”Adds Avinash Bhandari, Joint Managing Director, Electrotherm, “We are seeing major demand coming from the infrastructure sector. Housing, especially multi-storeyed buildings, require high-quality steel.” In India, BIS 1786 is a compulsory standard for steel – any compromise on quality can have adverse results on infrastructure. Indeed, India has made major advances in the quality of steel it produces. Leading companies have developed the capability to produce the high-strength steel required for major infrastructure. Lalit Beriwala, Director, Shyam Steel, adds, “500 D TMT bars is the standard approved by the Central Government for projects such as bridges, dams, flyovers, etc, because it has strength and elasticity.”