Growth of Steel Industry - Infographic

Expansion of steel production capacity to 300 MT will translate into additional investment of Rs. 10 lakh crore (US$ 156.08 billion) by 2030-31.

Advantage India

Robust
Demand

*India’s finished steel consumption stood at 119.17 MT in FY23, 136.29 MT in FY24 and 111.49 MT in FY25*.

*India’s domestic steel demand is estimated to grow by 9-10% in FY25 as per ICRA.

*To boost post-COVID-19 economic recovery, the government plans major investments in infrastructure like roads, railways, metros, industrial parks, corridors, DFC, water and energy transport, transmission towers, and affordable housing, driving strong demand for steel.

Increasing
investments

*The industry is witnessing consolidation of players, which has led to investment by entities from other sectors. The ongoing consolidation also presents an opportunity to global players to enter the Indian market.

*PLI short-listed companies are expected to invest US$ 1.2 billion (Rs. 10,000 crore) in specialty steel-making next year and nearly US$ 1.9 billion (Rs. 16,000 crore) by FY24-end.

Policy
Support

*In February 2024, The government has implemented various measures to promote self-reliance in the steel industry.

*Under the Union Budget 2023-24, the government allocated Rs. 70.15 crore (US$ 8.6 million) to the Ministry of Steel.

Competitive
Advantage

*In FY25 (April-February), crude steel production in India stood at 132.57 MT.

*Easy availability of low-cost manpower and presence of abundant iron ore reserves make India competitive in the global set up.

*India is home to fifth-highest reserves of iron ore in the world.

Snapshot Showcase Infographics Reports

Last updated: Aug, 2025

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