The government is working on comprehensive frameworks to enable global raw‑material sourcing and technology cooperation for India’s steel industry. The initiative aims to help both public and private producers secure competitive pricing for key inputs such as coking coal and iron ore while building resilient supply chains.
As part of this strategy, collective action by steelmakers is being encouraged to strengthen their bargaining power in global markets. By negotiating jointly, the industry is expected to unlock better pricing, diversify sources of procurement, and reduce the risks associated with over‑dependence on a few suppliers. The plan also includes collaboration with international partners for advanced technologies to enhance production efficiency and sustainability.
India’s steel sector is poised for rapid expansion, with capacity expected to grow from around 200 million tonnes per annum to 300 million tonnes by 2030. However, domestic production of essential raw materials is not sufficient to meet this future demand, leading to a growing reliance on imports. Strengthening supply chains through global sourcing and technology partnerships is therefore seen as critical to ensuring steady and cost‑effective input availability.
In addition to sourcing strategies, the initiative is likely to focus on adopting new technologies that improve resource efficiency and reduce carbon emissions. With a significant share of the planned capacity yet to be established, these measures are expected to play a vital role in shaping the future competitiveness and sustainability of the Indian steel industry.
