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

26 Jul 2024 CW Team

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)

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)

Infrastructure Energy

17 Dec 2025

Vedanta Aluminium Uses 1.57 bn Units of Green Energy in FY25

Vedanta Aluminium, India’s largest aluminium producer, recently reported consumption of 1.57 billion units of renewable energy in FY25, marking a significant milestone in its 2030 decarbonisation roadmap. The company also achieved an 8.96 per cent reduction in greenhouse gas (GHG) emissions intensity compared to FY21, reinforcing its leadership in India’s low-carbon manufacturing transition. During FY25, Vedanta Aluminium expanded its renewable energy portfolio through long-term power purchase agreements, strengthening its strategy to source nearly 1,500 MW of renewable power over the lon..

Real Estate

17 Dec 2025

Oberoi Group to Develop Luxury Resort at Makaibari Tea Estate

EIH Limited, the flagship company of The Oberoi Group, has announced the signing of a management agreement to develop an Oberoi luxury resort at the iconic Makaibari Tea Estate in Darjeeling. The project marks a key milestone in the Group’s long-term strategy of creating distinctive hospitality experiences in rare and environmentally significant locations. Established in 1859, Makaibari is one of the world’s oldest tea estates and is globally recognised for its Himalayan landscape, primary forests and exceptional biodiversity. Spread across 1,236 acres, the estate houses one of the world�..

Real Estate

17 Dec 2025

GHV Infra Secures Rs 1.09 Bn EPC Order in Jamshedpur

GHV Infra Projects Ltd, a fast-growing EPC company in India’s infrastructure and construction sector, has recently secured a Rs 1.09 billion work order in Jamshedpur, Jharkhand. Awarded by a reputed group entity, the contract covers end-to-end civil construction, mechanical, electrical and plumbing (MEP) systems, along with high-quality finishing works for a large building development. The project will be executed over a 30-month period, with defined benchmarks for quality, safety and timely delivery. The order strengthens GHV Infra’s footprint in Jamshedpur, a key industrial hub known fo..