India Targets 600 Million Tons of Steel Capacity by 2047
India’s new steel policy targets 600 million metric tons of steelmaking capacity by 2047, according to Steel Secretary Sandeep Poundrik. The draft policy is intended as a roadmap for the sector over the next two decades and is expected to be released publicly soon. India’s steelmaking capacity stood at about 220 million tons in fiscal 2026.
The policy also focuses on reducing emissions and securing key raw materials such as iron ore and coking coal. It aims to lower the steel sector’s average carbon emission intensity to around 1.54 tons of carbon dioxide per ton of crude steel by 2047, from the current 2.54 tons, supporting India’s broader goal of reaching net-zero emissions by 2070.
India faces challenges in securing raw materials and managing international trade. The government expects iron ore demand to reach 772 million tons and coking coal demand to 214 million tons, while planning to diversify supplies through overseas assets, joint ventures and strategic international partnerships. India was also a net importer of finished steel between April and August, importing 3.5 million tons during the period.
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