Indian sponge iron production grows 8%; Expected to pass 75 MT by FY30

19 Sep 2024 CW Team

India's production of direct reduced iron (DRI), commonly known as sponge iron, grew at a compound annual growth rate (CAGR) of 8% to reach 51.5 metric tonnes (MT) in FY 2024, up from 34.7 MT in FY 2019, outpacing the 5% growth in crude steel output, according to a report.

India, the world's largest DRI producer, is expected to see production exceed 75 MT by FY 2030. In FY 2024, small and mid-sized companies contributed 71% of the country's DRI output, while large companies accounted for the remaining 29%.

Demand for DRI is driven by long steel manufacturing, with long steel production rising from 51.5% of total steel production in FY 2019 to 54.8% in FY 2024 due to construction and infrastructure activities. However, the trend is expected to reverse over the next three years as flat steel production is anticipated to increase, with large players enhancing capacity through the blast furnace-blast oxygen furnace (BF-BOF) route. Despite this shift, the absolute production of long steel is expected to remain higher than that of flat steel.

India primarily produces sponge iron using the coal-based route (80%), with the remaining produced through the gas-based route. The country is self-sufficient in iron ore but imports 30-40% of its coal from countries like South Africa and Indonesia. Iron ore production stood at 277 MT in FY 2024 and is projected to grow at a CAGR of 7-9% over the next five years. Additionally, pellet production is expected to increase due to higher capacity and demand from the crude steel sector. Thermal coal supply has also been on the rise since FY 2024, with further growth expected from Coal India Ltd. (ET)

Resources

09 Mar 2026

Haworth India Hosts Women’s Leadership Panel Series

Haworth India marked International Women’s Day by hosting a leadership roundtable series titled ‘Give to Gain’, bringing together senior women leaders from architecture and design firms, corporates and project management consultancies. The series has been conducted in Delhi and Mumbai, with upcoming sessions scheduled in Bengaluru and Hyderabad on 27 March 2026. Structured as moderated panel discussions followed by audience interaction, the initiative examined the business impact of women’s leadership and the role of inclusive workplaces in supporting professional growth. Manish Khan..

Max Estates Secures RERA For Max One Project

Max Estates has secured RERA approval (UPRERA No.: UPRERAPRJ9759) for its Max One development around Max Towers in Sector 16B, Noida, bringing renewed progress to a project previously stalled following the insolvency of its earlier developer. Spread across around 10 acres with an estimated development potential of about 2.5 million sq ft, Max One is planned as an integrated mixed-use campus combining serviced residences, premium offices, retail spaces and a private club. The project is expected to generate total sales potential of about Rs 20 billion along with an estimated annuity rental inc..

Hindware Introduces Starc Smart Wall Mount Toilet

Hindware has introduced the Starc Smart Wall-Mount Toilet under its Hindware Italian Collection, designed to combine automation, hygiene and contemporary bathroom aesthetics. The model features automatic flushing, sensor-based seat opening and closing, and remote-controlled functions. It also includes an oscillating water spray and warm air dryer for cleaning, along with a self-cleaning nozzle designed to maintain hygiene. Additional features include adjustable heated seating, customisable water temperature and pressure settings, a foot-touch flush system and an LCD control interface. The wa..