The company says India’s infra and manufacturing build-out could drive domestic steel demand up by more than 80 per cent to over 300 million tonnes.
JSW Steel plans to invest nearly $20 billion over the next seven years, as the company bets India has entered a prolonged infrastructure and manufacturing expansion cycle that could drive domestic steel demand up by more than 80 per cent to over 300 million tonnes (mt) from about 165 mt currently.
Speaking at the Citi India Conference 2026, Jayant Acharya, Managing Director, JSW Steel, said the company’s expansion plans, translating to roughly $3 billion in annual investments, are based on the view that India has entered a “nation-building” phase driven by infrastructure creation, urbanisation, manufacturing growth and rising domestic consumption.
“One of the strongest indicators supporting that conviction,” Acharya said, “is India’s rising per-capita steel consumption, which has now crossed 115 kg.”
