India's government has unveiled an ambitious steel policy targeting 600 million metric tons of steelmaking capacity by 2047, according to the country's steel secretary on Tuesday, September 29, 2026. The policy document, reviewed by Reuters, represents a two-decade roadmap for the Indian steel sector and is expected to be released to the public domain soon. Beyond production capacity targets, the new policy framework addresses critical sector priorities including emission reduction initiatives and measures to strengthen access to essential raw materials such as iron ore and coking coal.
These supply-chain considerations reflect efforts to ensure India can meet anticipated demand growth over the coming decades. India's current steel trade dynamics reveal significant import dependence. During the April-August 2026 period, India imported 3.5 million tons of finished steel, representing a substantial 29.5 percent increase compared to the same period in the previous year.
China emerged as the dominant supplier during this timeframe, accounting for 31.8 percent of India's finished steel imports. The Ministry of Steel has not yet provided official comment on the policy details, though the document has been made available to major news organizations for review. The initiative comes as India seeks to strengthen its position in global steel markets while managing raw material security and environmental sustainability challenges.
Source: Reuters, mining.com
Source: mining.com