Global resources major BHP has projected a significant rise in demand for raw materials such as iron ore, coking coal, and potash, driven by India’s rapidly expanding steel industry. According to the company’s latest outlook, the country’s annual steel demand could potentially quadruple over the coming decades, underlining India’s emergence as a critical growth market in the global metals and mining sector.
India is already the world’s second-largest producer of steel, with demand strongly supported by government-backed infrastructure projects, urbanisation, and manufacturing growth. BHP’s analysis suggests that this growth trajectory will further accelerate as India pursues its economic development agenda and industrial modernisation.
Iron ore and coking coal, which are the essential raw materials for steelmaking, are expected to see robust demand in line with this expansion. At the same time, potash consumption is forecast to rise, reflecting broader requirements across agriculture and industry, as the company aligns its portfolio with long-term shifts in resource consumption.
The outlook highlights India as a strategic market where both domestic and international suppliers of raw materials will need to focus their investments. Industry experts note that while the country is resource-rich, challenges such as logistics, import dependency for coking coal, and environmental considerations could shape supply chains.
For the steel industry, the projections reinforce expectations of sustained growth, supported by policies under the National Steel Policy and continued foreign partnerships. Increased raw material demand is likely to stimulate exploration, investment in mining infrastructure, and expanded trade flows, positioning India as a central driver of global commodity demand in the decades ahead.
