National Steel Policy

Steel ambitions

2047 goals must balance capacity expansion with clean tech

Proposed steel policy seeks AI-led detection of sub-standard steel imports

The draft steel policy seeks to put in place an AI-powered governance framework and advanced data analytics to ensure early detection of abnormal import trends and boost the competitiveness of the domestic steel industry. According to the draft National Steel Policy Vision 2047, a three-pronged strategy centred around quality assurance, fair trade and domestic capability should be adopted to reduce avoidable import dependence, strengthen India's steel ecosystem and enhance the competitiveness, resilience and long-term growth of both the steel industry and downstream manufacturing sectors. The proposed policy seeks to build a roadmap for the Indian steel industry until 2047. The government has proposed a new policy as the earlier National Steel Policy 2017 needed a relook considering the current challenges and requirements of the steel sector. Emerging priorities like artificial intelligence, machine learning and technical upgrades require greater focus. Besides scaling up the ...

Draft steel policy eyes nearly threefold rise in capacity by 2047

Roadmap envisages major expansion in slurry pipelines with support from viability gap funding, a 39 per cent cut in emission intensity, 45 MT exports and measures to expand scrap use

Govt releases draft National Steel Policy 2047, targets 604 MT capacity

The government has released a new steel policy to boost India's crude steel capacity to 604 million tonnes by 2047, enhance industry competitiveness and address key import challenges. According to the draft National Steel Policy 2047, finished steel demand will rise to 505 MT by 2047, per capita consumption to 302 kg and steel exports to 45 MT. Raw materials account for around 65-70 per cent of steelmaking costs. While India is largely self-sufficient in iron ore, it imports nearly 92 per cent of its coking coal requirement. The policy seeks to reduce import dependence through domestic mining, washery expansion, asset acquisition, long-term supply arrangements, and AI-based optimisation of coal blends. Other raw materials important for the steel sector, like Manganese, Limestone etc., will also remain in policy focus to ensure long-term resource sustainability. The secondary steel sector, comprising around 2,550 units and nearly 47 per cent of crude steel production capacity, wil

New steel policy eyes 600 MT capacity, 500 MT consumption: Steel secretary

The government also plans a ₹5,000 crore Viksit Bharat Ispat scheme for small producers, with incentives linked to output and lower carbon emissions

Steel demand needs 9% CAGR to meet 160 kg/capita consumption target: Icra

The domestic steel demand needs to grow at a compound annual growth rate (CAGR) of 9 per cent over the next decade to meet 160 kg per capita steel consumption target envisaged in the National Steel Policy (NSP). Launched in 2017, NSP also aims to ramp up the country's crude steel production to 300 million tonne (MT) by 2030-31. Jayanta Roy, Senior Vice-President & Group Head, Corporate Sector Ratings, Icra said, India's current per capita steel demand of 76 kg is not only significantly below the world average of 233 kg per capita, but also remains the lowest among Brazil, Russia, India, China and South Africa (BRICS) nations. To take the country's steel consumption close to NSP target of 160 kg per capita in FY2031, the domestic steel demand would need to grow at a CAGR of 9 per cent in the next decade, the expert said in an Icra report on Wednesday. He further noted, "This is almost double the growth rate achieved in the decade gone by. While achieving this milestone will be ...

Steel secretary says new policy saved Rs 50 bn forex, spiked crude capacity

India also replaced Japan as the second largest steel producer this year, she said

'National Steel Policy to help steel demand stay steady at 6% for 5 years'

NSP targets to achieve 300 MT of steel making capacity by 2030

New steel policy: Govt to invest Rs 10 lakh cr to up capacity to 300 mt

Policy envisages use of domestic steel products for govt projects