India’s steel industry has achieved a major milestone, with crude steel production capacity touching 205 million tonnes (MT) in FY 2024–25, according to a report by MP Financial Advisory Services LLP. The study highlights India’s growing prominence in global steel manufacturing, bolstered by robust public-sector investments, infrastructure development, and a strong pipeline of capacity expansion projects.
The report underscores a notable acceleration in capacity growth, averaging nearly 5 per cent annually between 2016 and 2024, with the pace picking up to 8 per cent post-2020. This sharp uptick contrasts with the modest annual growth of ~2.8 per cent in China and ~1.8 per cent globally, positioning India as one of the fastest-growing steel-producing nations in the world.
The expansion trend is aligned with the Indian government’s National Steel Policy 2017, which had originally targeted 300 MT capacity by 2030. With large-scale projects in the pipeline-from JSW’s proposed 25 MT integrated steel plant in Maharashtra to capacity additions by Tata Steel, SAIL, and Jindal Steel & Power-the country is now on track to meet this ambitious goal.
Analysts attribute the surge to India’s increasing domestic demand for steel, driven by sectors such as construction, automotive, renewable energy, and data centre infrastructure. Additionally, policy support for Make in India and PLI schemes have attracted both domestic and foreign investment into steel production.
The findings were covered by industry platforms such as SteelOrbis, ГМК Center, and cited by India’s Ministry of Steel in recent industry roundups.
As global attention shifts toward sustainable and resilient supply chains, India’s steel industry is poised to become a key player in fulfilling both regional and global steel demand over the next decade.
