India will achieve 300 million tonnes of steel production capacity by 2030
New Delhi: India will achieve a steel production capacity of 300 million tonnes by 2030 and at the same time, per capita steel consumption will increase to 160 kg during this period. This information was given by the government.
110.99 million tonnes of raw steel was produced in the country during the period from April to December of FY 25. At the same time, the production of finished steel was 106.86 million tonnes.
According to the information given by the government, in the second round of Production-Linked Incentive (PLI) Scheme 1.1 brought for specialty steel, companies have committed to invest about Rs 17,000 crore. This is expected to increase India’s competitiveness in specialty steel production.
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To increase the growth of the country’s steel sector, the ‘India Steel 2025’ event is going to be held in Mumbai next week. In this, companies will get an opportunity to exchange knowledge and forge partnerships at inter-state and international levels.
Prime Minister Narendra Modi will address this global steel industry event on April 24 through video conferencing. Global industry leaders and senior foreign delegations will be present in this program, including Deputy Industry and Trade Minister of Russia, ambassadors of Australia, Mozambique and Mongolia.
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With 12,000 business visitors, 250 exhibitors, 1,200 conference delegates, this event will be one of the largest steel events globally, which will include various sectors, government departments, state governments, country delegations and domestic and international buyers from India and abroad. The ministry said that country-specific sessions will include major steel producing countries including South Korea, Sweden, Australia and Mongolia. These discussions will discuss joint research, technology transfer and strengthening the supply chain to de-risk India’s steel production and promote global competitiveness.
