+
India to reach 300 MT by 2030 in steel production; Deloitte & ISA
Steel

India to reach 300 MT by 2030 in steel production; Deloitte & ISA

India's path to becoming a global steel production leader is set, with ambitious targets to reach 300 million metric tonnes (MT) of crude steel capacity by 2030 and 500 MT by 2047, as outlined in a comprehensive report by Deloitte India and the Indian Steel Association (ISA). The report was unveiled at the ISA Steel InfraBuild Summit 2024, under the title ?ISA Steel InfraBuild Summit 2024 - Economical, Greener, and Always Faster Steel: Shaping the Future.?

As the world's second-largest steel producer, India's steel industry is pivotal to its economic growth. In fiscal year 2024, domestic finished steel consumption surged to 136 MT, reflecting a remarkable year-on-year growth of over 14%. The construction and infrastructure sectors are the largest consumers, using approximately 94 MT.

Government initiatives and increasing urbanization have significantly supported the steel sector. India's per capita steel consumption in 2022-23 was recorded at 93.44 kg, indicating substantial growth potential compared to the global average. The report projects that by 2034, the finished steel consumption could range between 221 MT and 275 MT, depending on various scenarios. The optimistic scenario estimates consumption at 275 MT, driven by the construction, infrastructure, and automobile sectors.

Specific regional demands are expected to rise, with states like Maharashtra, Uttar Pradesh, and Gujarat leading due to their on-going industrial and infrastructure projects. Additionally, national initiatives such as the National Green Hydrogen Mission are likely to boost demand for specialty steels critical for hydrogen production and storage.

Policy initiatives such as the National Steel Policy, Production-Linked Incentive (PLI) schemes, and flagship programs like the Pradhan Mantri Awas Yojana (PMAY) have significantly fuelled the demand for steel. The future of India's steel industry looks robust, with strategic government actions and sectoral growth driving demand across the country, positioning India to strengthen its standing on the global industrial map. (Source: ET)

Your next big infra connection is waiting at RAHSTA 2025 – Asia’s Biggest Roads & Highways Expo, Jio World Convention Centre, Mumbai. Don’t miss out!

India's path to becoming a global steel production leader is set, with ambitious targets to reach 300 million metric tonnes (MT) of crude steel capacity by 2030 and 500 MT by 2047, as outlined in a comprehensive report by Deloitte India and the Indian Steel Association (ISA). The report was unveiled at the ISA Steel InfraBuild Summit 2024, under the title ?ISA Steel InfraBuild Summit 2024 - Economical, Greener, and Always Faster Steel: Shaping the Future.? As the world's second-largest steel producer, India's steel industry is pivotal to its economic growth. In fiscal year 2024, domestic finished steel consumption surged to 136 MT, reflecting a remarkable year-on-year growth of over 14%. The construction and infrastructure sectors are the largest consumers, using approximately 94 MT. Government initiatives and increasing urbanization have significantly supported the steel sector. India's per capita steel consumption in 2022-23 was recorded at 93.44 kg, indicating substantial growth potential compared to the global average. The report projects that by 2034, the finished steel consumption could range between 221 MT and 275 MT, depending on various scenarios. The optimistic scenario estimates consumption at 275 MT, driven by the construction, infrastructure, and automobile sectors. Specific regional demands are expected to rise, with states like Maharashtra, Uttar Pradesh, and Gujarat leading due to their on-going industrial and infrastructure projects. Additionally, national initiatives such as the National Green Hydrogen Mission are likely to boost demand for specialty steels critical for hydrogen production and storage. Policy initiatives such as the National Steel Policy, Production-Linked Incentive (PLI) schemes, and flagship programs like the Pradhan Mantri Awas Yojana (PMAY) have significantly fuelled the demand for steel. The future of India's steel industry looks robust, with strategic government actions and sectoral growth driving demand across the country, positioning India to strengthen its standing on the global industrial map. (Source: ET)

Next Story
Infrastructure Urban

Delivering metals in 24 hours with AI

India’s metal supply chain has long struggled with delays, fragmentation and lack of transparency, forcing purchase teams to chase vendors and juggle uncertain stock. Enlight Metals is tackling these inefficiencies with an AI-powered aggregation platform, multilingual voice-enabled procurement and strategically located dark stores that enable 24-hour delivery – transforming how OEMs, EPCs and infrastructure players source their metals. In a conversation with CW, Dhananjay Goel, Director, and Vedant Goel, Director, shares how the company is reshaping procurement. What problem..

Next Story
Infrastructure Urban

Silvin's CPVC Additive Gets NSF® Certification for Safety

Silvin Additives, a prominent manufacturer of PVC and CPVC additives, has secured the NSF® Guideline 533 certification for its CPVC Super1Pack formulation. This certification affirms the additive’s compliance with stringent international health and safety standards for products intended for drinking water applications.Awarded by NSF, a globally respected public health and safety authority based in Michigan, United States, the certification is granted only after rigorous product testing and inspection. NSF® Guideline 533 specifically assesses the safety of chemical ingredients used in produ..

Next Story
Infrastructure Urban

Mitsubishi Halts Offshore Wind Projects in Japan

Mitsubishi Corporation (MC) has announced its decision to withdraw from three major offshore wind projects off the coast of Japan due to a significant shift in global business conditions. The projects were being developed through a consortium led by its subsidiary, Mitsubishi Corporation Offshore Wind Ltd., and were located off the shores of Noshiro City, Mitane Town, and Oga City in Akita Prefecture; Yurihonjo City in Akita Prefecture; and Choshi City in Chiba Prefecture.The company stated that following a review initiated in February 2025, it concluded the projects were no longer viable. The..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Talk to us?