India targets 600 MT steel capacity by 2047: Secretary

India is targeting 600 million metric tonnes of steelmaking capacity by 2047 under a new steel policy that will serve as a roadmap for the sector over the next two decades, Steel Secretary Sandeep Poundrik recently stated.
The policy is expected to be released in the public domain soon. A draft document outlines plans to expand steelmaking capacity, reduce carbon emissions and strengthen access to key raw materials such as iron ore and coking coal, according to agency reports.India’s steelmaking capacity stood at around 220 million tonnes in fiscal 2026. Poundrik said raw material availability and exports remain major challenges for the sector, particularly as countries increase trade barriers.
India was a net importer of finished steel during April-August, importing 3.5 million tonnes, up 29.5% from the same period a year earlier. China accounted for 31.8% of India’s finished steel imports during the period, making it the largest exporter to the country.
The draft policy aims to reduce the steel sector’s average carbon emission intensity to around 1.54 tonnes of carbon dioxide per tonne of crude steel by 2047, from the current 2.54 tonnes.The target is aligned with India’s goal of achieving net-zero emissions by 2070.
The Steel Ministry estimates that India’s iron ore requirement could reach 772 million tonnes and plans to secure access to high-grade reserves through overseas assets and joint ventures.Coking coal demand is also projected to rise to 214 million tonnes. The government plans to diversify supplies through “strategic global outreach” and acquire overseas assets to strengthen access to the key raw material.