India Drives Global Steel Demand
Steel

India Drives Global Steel Demand

India remains the only major economy witnessing robust double-digit growth in steel consumption, registering a 13.5% increase in the first half of FY 2024-25, according to the Ministry of Steel. This strong demand aligns with India's infrastructural ambitions but raises challenges regarding domestic production and imports.

Key Insights on Steel Demand and Production Projected Demand by 2030:

India will require 300 million tonnes of steel production capacity to meet an estimated 265 million tonnes of demand. Current capacity stands at 180 million tonnes, necessitating an additional 120 million tonnes of capacity. Investment needed: $120 billion (?10 lakh crore). National Steel Policy Goal:

Achieve 300 million tonnes capacity by 2030 to avoid dependency on imports. Challenges: Imports and Price Depression Surging Imports:

41.3% increase in steel imports in H1 2024-25 (4.73 million tonnes vs. 3.32 million tonnes in H1 2023-24). Cheaper imported steel threatens domestic price stability, impacting both large and small producers. Domestic Production:

Of the 144.3 million tonnes of steel produced in FY 2023-24: 59.16% by integrated producers. 40.84% by over 1,002 small producers across clusters, highlighting their vulnerability to low-price imports. Quality Assurance and Policy Measures To ensure high standards, the Bureau of Indian Standards (BIS), in collaboration with the Ministry of Steel, has:

Notified 51 BIS Standards covering 1,376 grades of steel. Introduced Quality Control Orders to ensure that domestically produced or imported steel adheres to these standards, preventing low-quality imports. Outlook and Strategic Importance India’s steel demand growth underscores its rapid development trajectory, driven by urbanization and infrastructure projects. However, for sustained growth:

Domestic capacity expansion must be prioritized. Protective policies against price dumping are essential to safeguard small and large producers. Continued quality assurance ensures global competitiveness. India’s trajectory positions it as a critical player in global steel markets, balancing production, consumption, and import regulation.

India remains the only major economy witnessing robust double-digit growth in steel consumption, registering a 13.5% increase in the first half of FY 2024-25, according to the Ministry of Steel. This strong demand aligns with India's infrastructural ambitions but raises challenges regarding domestic production and imports. Key Insights on Steel Demand and Production Projected Demand by 2030: India will require 300 million tonnes of steel production capacity to meet an estimated 265 million tonnes of demand. Current capacity stands at 180 million tonnes, necessitating an additional 120 million tonnes of capacity. Investment needed: $120 billion (?10 lakh crore). National Steel Policy Goal: Achieve 300 million tonnes capacity by 2030 to avoid dependency on imports. Challenges: Imports and Price Depression Surging Imports: 41.3% increase in steel imports in H1 2024-25 (4.73 million tonnes vs. 3.32 million tonnes in H1 2023-24). Cheaper imported steel threatens domestic price stability, impacting both large and small producers. Domestic Production: Of the 144.3 million tonnes of steel produced in FY 2023-24: 59.16% by integrated producers. 40.84% by over 1,002 small producers across clusters, highlighting their vulnerability to low-price imports. Quality Assurance and Policy Measures To ensure high standards, the Bureau of Indian Standards (BIS), in collaboration with the Ministry of Steel, has: Notified 51 BIS Standards covering 1,376 grades of steel. Introduced Quality Control Orders to ensure that domestically produced or imported steel adheres to these standards, preventing low-quality imports. Outlook and Strategic Importance India’s steel demand growth underscores its rapid development trajectory, driven by urbanization and infrastructure projects. However, for sustained growth: Domestic capacity expansion must be prioritized. Protective policies against price dumping are essential to safeguard small and large producers. Continued quality assurance ensures global competitiveness. India’s trajectory positions it as a critical player in global steel markets, balancing production, consumption, and import regulation.

Next Story
Infrastructure Urban

TBO Tek Q2 Profit Climbs 12%, Revenue Surges 26% YoY

TBO Tek Limited one of the world’s largest travel distribution platforms, reported a solid performance for Q2 FY26 with a 26 per cent year-on-year increase in revenue to Rs 5.68 billion, reflecting broad-based growth and improving profitability.The company recorded a Gross Transaction Value (GTV) of Rs 8,901 crore, up 12 per cent YoY, driven by strong performance across Europe, MEA, and APAC regions. Adjusted EBITDA before acquisition-related costs stood at Rs 1.04 billion, up 16 per cent YoY, translating into an 18.32 per cent margin compared to 16.56 per cent in Q1 FY26. Profit after tax r..

Next Story
Infrastructure Energy

Northern Graphite, Rain Carbon Secure R&D Grant for Greener Battery Materials

Northern Graphite Corporation and Rain Carbon Canada Inc, a subsidiary of Rain Carbon Inc, have jointly received up to C$860,000 (€530,000) in funding under the Canada–Germany Collaborative Industrial Research and Development Programme to develop sustainable battery anode materials.The two-year, C$2.2 million project aims to transform natural graphite processing by-products into high-performance, battery-grade anode material (BAM). Supported by the National Research Council of Canada Industrial Research Assistance Programme (NRC IRAP) and Germany’s Federal Ministry for Economic Affairs a..

Next Story
Infrastructure Urban

Antony Waste Q2 Revenue Jumps 16%; Subsidiary Wins Rs 3,200 Cr WtE Projects

Antony Waste Handling Cell Limited (AWHCL), a leading player in India’s municipal solid waste management sector, announced a 16 per cent year-on-year increase in total operating revenue to Rs 2.33 billion for Q2 FY26. The growth was driven by higher waste volumes, escalated contracts, and strong operational execution.EBITDA rose 18 per cent to Rs 570 million, with margins steady at 21.6 per cent, while profit after tax stood at Rs 173 million, up 13 per cent YoY. Revenue from Municipal Solid Waste Collection and Transportation (MSW C&T) reached Rs 1.605 billion, and MSW Processing re..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement