India’s steel production to surge by 32.9% by 2030

11 Oct 2024 CW Team

India’s crude steel production is projected to grow by 32.9%, reaching over 186 million metric tons (MMt) annually by 2030, according to a report by S&P Global Commodity Insights. The report, titled "India's Circular Economy Goals: Spotlight on Ferrous Scrap", emphasises the critical role of ferrous scrap in reducing carbon emissions as the country, the world’s second-largest steel producer, transitions towards more sustainable production methods. The report highlights that as India aims to scale its steel production capacity to 300 MMt by 2030, the use of ferrous scrap through electric arc furnaces (EAFs) and induction furnaces (IFs) will be crucial in reducing the sector’s reliance on high-emission blast furnace routes. The shift aligns with the government’s target of making ferrous scrap 50% of the steel feedstock by 2047. S&P Global Commodity Insights has also enhanced transparency in ferrous scrap pricing with daily assessments for Indian containerised shredded scrap starting in June 2024. This move aims to reflect the evolving dynamics in the scrap market as Indian steelmakers increasingly rely on spot trades to secure essential scrap inflows. “The transition to ferrous scrap is crucial for India’s decarbonisation goals,” the report noted, adding that while domestic scrap supply is growing through shipbreaking and vehicle scrappage programs, imports remain vital. UAE is currently a key supplier, but global competition for ferrous scrap is intensifying. The report also touched upon the challenges facing India’s steel sector in its circular economy shift. These include global regulatory hurdles like the EU’s Waste Shipments Regulation and the Carbon Border Adjustment Mechanism (CBAM), which may restrict the availability of ferrous scrap exports. Despite these challenges, the report stresses that ferrous scrap will play a pivotal role in India’s efforts to decarbonise its steel industry. With the steel industry moving towards indexation and global risk management practices, India’s steelmakers are expected to benefit from increased price stability and improved procurement strategies, the report concluded.

India’s crude steel production is projected to grow by 32.9%, reaching over 186 million metric tons (MMt) annually by 2030, according to a report by S&P Global Commodity Insights. The report, titled India's Circular Economy Goals: Spotlight on Ferrous Scrap, emphasises the critical role of ferrous scrap in reducing carbon emissions as the country, the world’s second-largest steel producer, transitions towards more sustainable production methods. The report highlights that as India aims to scale its steel production capacity to 300 MMt by 2030, the use of ferrous scrap through electric arc furnaces (EAFs) and induction furnaces (IFs) will be crucial in reducing the sector’s reliance on high-emission blast furnace routes. The shift aligns with the government’s target of making ferrous scrap 50% of the steel feedstock by 2047. S&P Global Commodity Insights has also enhanced transparency in ferrous scrap pricing with daily assessments for Indian containerised shredded scrap starting in June 2024. This move aims to reflect the evolving dynamics in the scrap market as Indian steelmakers increasingly rely on spot trades to secure essential scrap inflows. “The transition to ferrous scrap is crucial for India’s decarbonisation goals,” the report noted, adding that while domestic scrap supply is growing through shipbreaking and vehicle scrappage programs, imports remain vital. UAE is currently a key supplier, but global competition for ferrous scrap is intensifying. The report also touched upon the challenges facing India’s steel sector in its circular economy shift. These include global regulatory hurdles like the EU’s Waste Shipments Regulation and the Carbon Border Adjustment Mechanism (CBAM), which may restrict the availability of ferrous scrap exports. Despite these challenges, the report stresses that ferrous scrap will play a pivotal role in India’s efforts to decarbonise its steel industry. With the steel industry moving towards indexation and global risk management practices, India’s steelmakers are expected to benefit from increased price stability and improved procurement strategies, the report concluded.

Infrastructure Transport

06 Feb 2026

Lucknow Metro East-West Corridor Consultancy Contract Awarded

The Uttar Pradesh Metro Rail Corporation has awarded the first construction-related consultancy contract for the Lucknow Metro East West Corridor to a joint venture of AYESA Ingenieria Arquitectura SAU and AYESA India Pvt Ltd. The firm was declared the lowest bidder for the Detailed Design Consultant contract for Lucknow Metro Line-2 under Phase 1B and the contract was recommended following the financial bid. The contract is valued at Rs 159.0 million (mn), covering design services for the corridor. Lucknow Metro Line-2 envisages the construction of an 11.165 kilometre corridor connecting Cha..

Infrastructure Urban

06 Feb 2026

Div Com Kashmir Urges Fast Tracking Of Jhelum Water Transport Project

The Divisional Commissioner of Kashmir has called for the fast-tracking of the Jhelum water transport project, urging district administrations and relevant agencies to accelerate planning and clearances. In a meeting convened at the divisional headquarters, the commissioner instructed officials from irrigation, public health engineering and municipal departments to prioritise the project and coordinate survey and design work. The directive emphasised removal of administrative bottlenecks and close monitoring to ensure timely mobilisation of resources and contractors. Officials were told to in..

Infrastructure Urban

06 Feb 2026

Interarch Reports Strong Q3 And Nine Month Results

Interarch Building Solutions Limited reported unaudited results for the third quarter and nine months ended 31 December 2025, recording strong revenue growth driven by execution and a robust order book. Net revenue for the third quarter rose by 43.7 per cent to Rs 5.225 billion (bn), compared with Rs 3.636 bn a year earlier, reflecting heightened demand in pre-engineered building projects. The company’s total order book as at 31 January 2026 stood at Rs 16.85 bn, supporting near-term visibility. EBITDA excluding other income for the quarter increased by 43.2 per cent to Rs 503 million (mn),..