The Indian government has drafted the National Steel Policy – Vision 2047, aiming to build a globally competitive, technologically advanced, and environmentally sustainable steel sector, thereby enhancing India's position in the global steel industry and meeting growing domestic demand.
The policy targets raising the crude steel production capacity to 604 million tons by 2047, nearly tripling current levels, and increasing the demand for finished steel to 505 million tons. It also anticipates an increase in per capita steel consumption to 302 kilograms annually from the current 116 kilograms, and a rise in exports to 45 million tons.
The draft indicated an increase in India's crude steel production from 89 million tons in FY2014-2015 to 170 million tons in FY2025-2026, with a focus on expanding steel usage in infrastructure, housing, transportation, renewable energy, and manufacturing projects.
India aims to reduce the average carbon emission intensity from 2.54 tons of CO2 per ton of crude steel to 1.54 tons by 2047, by improving energy efficiency, increasing reliance on renewable electricity and scrap, and developing production technologies using hydrogen.
The draft also includes enhancing the production of specialty and high-value steel, developing a scrap collection and recycling system, encouraging domestic manufacturing of industry equipment, alongside employing artificial intelligence, automation, and digital technologies to boost productivity, improve quality, and enhance resource efficiency.
The proposed framework is set to form a long-term roadmap for the sector's development until 2047, by coordinating efforts among the central government, state governments, industrial companies, and stakeholders.
