India Targets 300 Million Tonnes Crude Steel Capacity by 2030, Says Minister Bhupathiraju Srinivas Varma
Image via IANS
New Delhi, October 31 (TheTrendingPeople.com): India is set to become a global powerhouse in steel manufacturing, with the government targeting 300 million tonnes (MT) of crude steel production capacity by 2030, Union Minister of State for Steel Bhupathiraju Srinivas Varma announced on Friday.
During a high-level meeting with Sara Modig, State Secretary to the Minister for Energy, Business and Industry, Sweden, the minister emphasized India’s expanding steel industry, driven by the visionary leadership of Prime Minister Narendra Modi and robust domestic demand.
India’s Steel Demand Grows at 11–13% Annually
According to the Steel Ministry, India’s domestic steel demand is rising at an impressive rate of 11–13%, fueled primarily by massive government-led infrastructure and industrial development projects.
This growth contrasts sharply with the global slowdown in steel demand, positioning India as a key driver of the global steel market over the coming decade.
The minister highlighted that the country’s ongoing investments in construction, railways, roads, defense, and energy sectors have created a sustained need for high-grade steel, helping to cushion the Indian economy against global industrial slowdowns.
“Under the leadership of Prime Minister Narendra Modi, India’s steel sector is on a trajectory of sustainable expansion. Our focus is not just on increasing capacity but on ensuring environmentally responsible growth through Green Steel technologies,” said Varma.
Focus on Green Steel and Sustainable Production
The meeting between Indian and Swedish officials focused on research and development (R&D) collaboration in Green Steel technologies, aiming to reduce carbon emissions in steel manufacturing — one of the world’s most energy-intensive industries.
Sweden, known for pioneering hydrogen-based steelmaking, has expressed interest in working with India to develop eco-friendly production processes and renewable energy integration in the steel sector.
The two nations discussed joint research partnerships, technological exchange, and the possibility of Swedish firms investing in India’s upcoming Green Steel initiatives.
“The collaboration between India and Sweden could accelerate the transition toward low-carbon steelmaking. This partnership aligns with India’s commitment to net-zero emissions and its National Steel Policy goals,” an official statement noted.
Bharat Steel 2026: Showcasing India’s Steel Strength
Minister Varma also reiterated the government’s invitation to Sweden to participate in Bharat Steel 2026, an International Conference-cum-Exhibition dedicated to the global steel industry.
Scheduled to be held on April 16–17, 2026, at Bharat Mandapam, New Delhi, the event aims to showcase India’s steel sector advancements, promote investment opportunities, and facilitate knowledge exchange among global industry leaders.
“Bharat Steel 2026 will serve as a platform for innovation, sustainability, and collaboration — bringing together global experts to discuss future-ready technologies and responsible production,” the minister said.
India’s Steel Sector Records Strong Growth in 2025
Data released by the Ministry of Commerce and Industry showed that India’s eight core industries grew by 3% in September 2025 compared to the same period last year, with the steel and cement sectors leading the surge.
Steel production alone recorded a 14.1% year-on-year increase in September 2025, supported by record infrastructure spending and higher consumption in the construction and automobile industries.
During April–September 2025–26, India’s cumulative steel production growth stood at 11% over the same period last year — reinforcing the sector’s resilience and demand strength.
Officials attributed the growth to large-scale public projects such as the Gati Shakti Master Plan, Pradhan Mantri Awas Yojana, and National Infrastructure Pipeline (NIP) — all of which rely heavily on domestic steel supplies.
Policy Support and Safeguard Measures
To strengthen the domestic market and prevent dumping, the government in April 2025 imposed a 12% temporary safeguard duty on specific steel imports.
This policy, according to the Steel Ministry, is part of a broader effort to stabilize domestic prices, protect Indian manufacturers, and encourage self-reliance under the ‘Make in India’ and ‘Atmanirbhar Bharat’ initiatives.
Industry experts have welcomed the move, noting that it allows domestic producers to compete fairly while continuing to invest in capacity expansion and innovation.
“The safeguard duty, coupled with strong domestic demand and policy stability, will help Indian steelmakers operate at optimal capacity and accelerate the country’s journey toward its 2030 targets,” said a senior industry analyst.
India’s Roadmap to Becoming a Global Steel Leader
India currently ranks as the second-largest steel producer in the world, after China, with an annual output of around 150 million tonnes.
The government’s National Steel Policy 2017 had initially set the target of reaching 300 million tonnes of capacity by 2030, and the latest growth trajectory suggests the goal is well within reach.
To achieve this, the Ministry of Steel is focusing on:
- Expanding capacity in both public and private sectors.
- Encouraging foreign direct investment (FDI) and technology transfer.
- Promoting Green Steel manufacturing to reduce the industry’s carbon footprint.
- Strengthening the research ecosystem through industry-academia partnerships.
The upcoming Green Steel Mission, to be jointly undertaken with the Ministry of New and Renewable Energy, will play a central role in this transformation.
Final Thoughts from TheTrendingPeople.com
India’s steel sector stands at the cusp of a major transformation — from being a volume-driven industry to becoming a sustainability-led global leader.
With strong government policy, rapid infrastructure growth, and collaborations with advanced economies like Sweden, India is not only poised to achieve its 300 million tonnes target by 2030 but also to set new standards in green industrialization.
As Minister Bhupathiraju Srinivas Varma highlighted, India’s steel story is no longer just about expansion — it’s about resilience, innovation, and global leadership in sustainable manufacturing.