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 Urban

17 Sep 2025

DCPC Prepares for Special Campaign 5.0 with Focus on E-Waste

The Department of Chemicals and Petrochemicals (DCPC), Ministry of Chemicals and Fertilisers, is gearing up for Special Campaign 5.0, to be held from 2nd to 31st October 2025. The initiative will focus on e-waste disposal as per MoEFCC’s E-Waste Management Rules 2022, space optimisation, and enhancing workplace efficiency across field offices.Special Campaign 4.0, conducted between October 2023 and October 2024, delivered notable results in record management, grievance redressal, scrap disposal, and cleanliness drives.Key outcomes of Special Campaign 4.0Records management: 2,443 physical fil..

Real Estate

17 Sep 2025

BlackRock India Leases 1.4 Lakh Sq Ft in Bengaluru

BlackRock Services India, the domestic arm of global asset manager BlackRock, has leased 1.4 lakh sq ft of office space at IndiQube Symphony in Bengaluru, according to Propstack data. The 10-year deal is valued at around Rs 4.10 billion.The lease, among the largest transactions in India’s co-working sector, highlights the growing preference of global institutions for flexible office providers. The agreement, commencing October 1, 2025, covers ground plus five floors in KNG Tower 1 at Ashoknagar, MG Road — one of Bengaluru’s prime commercial hubs.As per the lease document, BlackRock will ..

Infrastructure Transport

17 Sep 2025

L&T Bags Rs 25–50 Bn Order for Mumbai-Ahmedabad Bullet Train Track Works

Larsen & Toubro’s (L&T) Transportation Infrastructure business has secured an order valued between Rs 25 crore and Rs 50 billion from the National High Speed Rail Corporation Limited (NHSRCL) for the Mumbai-Ahmedabad High Speed Rail (MAHSR) corridor.The contract, Package T1, involves the design, supply, construction, testing, and commissioning of 156 route km of high-speed ballastless track on a Design-Build Lump Sum Price basis. The stretch runs from Mumbai’s Bandra-Kurla Complex to Zaroli village in Gujarat and includes 21 km of underground track and 135 km of elevated viaduct.Se..