Indian steel industry plays a significant role in the country's economic growth. India has acquired a central position on the global steel map with its giant steel mills, acquisition of global scale capacities by players, continuous modernisation and up-gradation of old plants, improving energy efficiency, and backward integration into global raw material sources.
Currently, ranked the world's fourth largest crude steel capacity, India is expected to become the second largest producer of crude steel in the world by 2015-16. India is also the world's largest producer of sponge iron with a host of coal-based units located in its mineral-rich states.
India's steel making capacity is estimated to exceed 100 million tonnes (MT) by 2013 and the production is expected to reach 275 MT by 2020. The per capita steel consumption increased from 34 Kilograms (Kg) in 2004-05 to 59 kg in 2011-12.
The World Steel Association has estimated steel consumption in India to grow at five per cent in 2013. "Steel producers may see a spurt in demand in the medium term if the Indian Government implements its US$ 1 trillion infrastructure investment plan," as per India Ratings.
Indian crude steel production is estimated to grow at a compound annual growth rate (CAGR) of around 10 per cent during 2010-2013, whereas the finished steel consumption is estimated to grow at a CAGR of around 12 per cent during FY 2012-14, as per a RNCOS research report titled, 'Indian Steel Industry Outlook to 2012'.
- Gerdau, a leading producer of long steel in the Americas, has announced majority ownership of its first plant in Asia, at Tadipatri, Anantapur district in Andhra Pradesh. The company has also changed the operational name of the unit, from Kalyani Gerdau to Gerdau
- The Essar Group plans to expand its presence in the African continent by setting up a 10 million tonne (MT) port in Mozambique, with an investment worth US$ 275 million. This port will facilitate exports from Zimbabwe Iron and Steel Company (ZISCO), a Zimbabwe-based company Essar acquired in 2010
- Usha Martin Ltd plans to set up a greenfield facility in Thailand to manufacture high-performance steel wire ropes. The facility will be set up by Usha Siam Steel Industries Public Co Ltd in joint venture (JV) with Japan-based Tesac Wire Ropes Company Ltd
- Steel Authority of India Ltd (SAIL) has signed a memorandum of understanding (MoU) with Kerala State Industrial Development Corp (KSIDC) and Kerala Minerals and Metals Ltd (KMML) to set up a Rs 2,500 crore (US$ 457.88 million) joint venture (JV) to produce titanium sponge and metals
- Mineral Exploration Corporation Ltd (MECL) has signed an MoU with Ministry of Mines to carry out 325,000 metre of exploratory drilling and 9,150 metre of exploratory/ developmental mining work in 2013-14
- Jindal Steel & Power Ltd (JSPL) plans to set up 1,500 megawatt (MW) greenfield power generating capacity across five African nations. These projects are expected to start in the new financial year starting April 1, 2013
- Essar Steel Minnesota LLC (ESML) has entered into a 10 year iron ore pellet off-take agreement with ArcelorMittal USA (AMUSA)