Steel Industry

'Sunset industry' that became the frame for India's post-reforms growth

Once labelled a "sunset industry", India's steel sector has been transformed by liberalisation, private investment and consolidation into a key driver of the country's growth

India to remain among fastest-growing steel markets in FY27: Ind-Ra

India will remain among the fastest-growing steel markets globally in FY27 amid oversupply in global steel markets, geopolitical uncertainties, evolving trade barriers, and tightening sustainability regulations, according to a report. India Ratings and Research (Ind-Ra) said it also expects the sector's strengthened balance sheets to support ongoing investments without materially weakening leverage metrics, although the execution of expansion projects, carbon-transition requirements, and export-related regulations are key monitorables. The agency said, "India will remain among the fastest-growing steel markets globally in FY27 amid oversupply in global steel markets, geopolitical uncertainties, evolving trade barriers, and tightening sustainability regulations". Ind-Ra expects India's steel demand to grow at a high-single-digit percentage year-on-year in FY27 (from 7.4 per cent in FY26), driven by the government's continued infrastructure spending, healthy demand from the ...

Companies invest ₹26,320 crore under specialty steel PLI scheme

Specialty steel PLI scheme attracts ₹26,320 crore investment as the government pushes domestic manufacturing, higher production and import substitution

'Regulatory environment has got tougher for Tata Steel in Netherlands'

Tata Steel expects stronger Q2 volumes across India and Europe despite margin pressure, while pursuing decarbonisation in the Netherlands and expanding Neelachal Ispat

AM/NS India June-quarter Ebitda rises 28.5% on higher steel prices

Steelmaker reports higher Ebitda and sales on improved prices and margins, while parent ArcelorMittal reiterates long-term expansion plans for India

Tata Steel Q1 net profit up 11.6%; approves ₹33,873-cr Neelachal expansion

India operations drive earnings as board clears 4.8 MTPA expansion at Neelachal Ispat Nigam; overseas business faces operational and regulatory challenges

Jindal Steel Q1 profit falls 43% to ₹845 crore despite revenue growth

Consolidated revenue from operations rose 25.9 per cent and steel sales grew 17.4 per cent, but higher material, finance and depreciation costs weighed on earnings

Steel industry must diversify exports, decarbonise: Govt official

The Indian steel industry must diversify, look for new export markets, and accelerate decarbonisation to remain globally competitive, a government official said on Thursday. The trade landscape is shifting as many countries are taking protective measures to safeguard their industries, Ashwini Kumar, Economic Advisor, Ministry of Steel, said. "Indian steel industry must accelerate decarbonisation, strengthen technology and R&D, and diversify its export markets to remain globally competitive amid a rapidly shifting trade landscape shaped by carbon border measures and tariff actions," he said addressing ASSOCHAM's India Steel Conclave 2026 in the national capital. The US and the EU have both taken measures to support their industries. While the US have invoked Section 232, the EU has introduced measures like CBAM (Carbon border adjustment mechanism) to avoid steel manufactured through high-carbon-emission processes. CBAM means that market access in high-value destinations will ...

Indian steelmakers pivot home as Europe curbs imports, China hits margins

India ships ​roughly two-thirds of its steel to Europe, and the executives expect exports to EU and Britain to ‌fall by as much as 40% this fiscal year after both markets tightened import rules

JSW Steel net zooms 113% on stronger prices, higher sales volumes

Revenue from operations rose 9.8% to ₹47,364 crore, while profit before tax doubled to ₹6,160 crore and expenses increased 3.7%

Elevated coal costs seen capping Q1 margin recovery for steel firms

Steel producers are expected to post weaker-than-expected Q1 margin recovery as higher coking coal, freight and operating costs offset gains from stronger domestic steel prices

Govt plans ₹5K cr scheme in 3 months to promote green tech in steel sector

The government is planning to introduce a scheme to promote the adoption of clean technologies in steelmaking processes with an outlay of Rs 5,000 crore, according to an official. The move is aimed at reducing carbon emissions from the domestic steel industry. The scheme named National Strategy for Sustainable Secondary Steel is expected to be launched in the next three months, a senior government official told PTI. "The scheme may go for approval of the union cabinet," another official in the know of the development said. The scheme will cover all steelmakers in the country. However, a major share of the funds will be earmarked for secondary players. The National Strategy for Sustainable Secondary Steel aims to promote the adoption of clean technologies and alternative materials across various steelmaking processes to reduce carbon emissions from the domestic steel industry. The move assumes significance as India is a signatory to the Paris Agreement and aims to become a net-zer

India's steel exports to EU may fall 24% due to CBAM, says ICRIER study

ICRIER says the EU's Carbon Border Adjustment Mechanism could cut India's steel exports by 24 per cent and have only a marginal impact on global carbon emissions

Anti-dumping duty on electrical steel may push transformer costs: GTRI

Any move to impose an anti-dumping duty on cold-rolled grain-oriented electrical steel (CRGO), which accounts for nearly 90 per cent of India's imports to meet domestic requirements, could increase transformer manufacturing costs and slow the country's power grid expansion, Thin Tank GTRI said on Friday. The commerce ministry's arm, Directorate General of Trade Remedies (DGTR), has initiated an anti-dumping probe against imports of CRGO and amorphous metals from China, Japan, Korea and Russia, following a complaint by JSW JFE Electrical Steel Nashik Pvt Ltd. The investigation, initiated on June 22, 2026, covers imports from April 1, 2025, to March 31, 2026, while the injury analysis covers 2022-23 to 2024-25. GTRI said that every power and distribution transformer uses CRGO steel in its magnetic core. The specialised electrical steel minimises energy losses and is indispensable for efficient electricity transmission and distribution. Demand for CRGO is expected to surge as India .

Govt begins anti-dumping probe into imports of electrical steel from China

India has initiated an anti-dumping probe against imports of electrical steel, used in transformers, from China, Japan, Korea and Russia, a commerce ministry notification said. The investigation followed a complaint in this regard by JSW JFE Electrical steel Nashik Pvt Ltd to the Directorate General of Trade Remedies (DGTR). The applicant has alleged that the cheap imports of 'Cold Rolled Grain Oriented Electrical Steel and Amorphous Metal' is significantly harming the domestic industry. "On the basis of the duly substantiated written application submitted by the applicant and having reached satisfaction based on the prima facie evidence submitted by the applicant concerning dumping of the product...the authority hereby initiates an anti-dumping investigation," the DGTR's notification said. In the probe, the directorate would determine the existence, degree and effect of the alleged dumping of the chemical exported from China and Japan. If it is established that the dumping has ca

Industry seeks policy push to boost structural steel use in construction

Industry executives have called for regulatory reforms, revised building codes and skill development to boost structural steel use as urbanisation gathers pace

India poised to drive next wave of global steel demand, says Lakshmi Mittal

India is set to become a key engine of global steel demand over the coming decades, driven by large-scale infrastructure development, urbanisation and investments linked to the energy transition, ArcelorMittal Executive Chairman Lakshmi Mittal said on Thursday. Speaking ahead of ArcelorMittal's 20th anniversary on July 31, Mittal said the global steel industry was entering a new phase in which India is expected to play a role similar to that played by China over the past two decades. The last 20 years have been characterised by China's remarkable growth. Now it is India's turn, with massive infrastructure expansion, rapid urban housing growth and energy-transition infrastructure all on the cards, Mittal said in a video message to delegates attending the World Steel Dynamics Global Steel Dynamics Forum 2026 in New York. Reflecting on the merger of Mittal Steel and Arcelor in 2006, which created the world's largest steelmaker, Mittal said the combination had strengthened the company .

India-UK trade pact: What changes for autos, whisky, textiles, steel

Here are the key takeaways from the India-UK trade deal, from lower tariffs on cars and Scotch whisky to duty-free textile access, social security relief for professionals and steel export safeguards

BHP Group, Rio Tinto see India driving steel's next wave of growth

Senior officials from both companies said rising demand and addition of new capacity in India could help offset slowing growth in China, which has dominated global steel markets for over two decades

BMW Industries eyes ₹4,500 cr revenue from Bokaro steel complex by FY30

The company expects its Rs 803-crore downstream steel complex in Jharkhand to reach full-scale operations by FY28 and generate annual revenue of up to Rs 4,500 crore by FY30