Iron & Steel Industry in India

India is the world’s second-largest producer of crude steel, with an output of 125.32 MT of crude steel and finished steel production of 121.29 MT in FY23.

Advantage India

Robust
Demand

* India’s finished steel consumption is anticipated to increase to 230 MT by 2030-31 from 119.17 MT in FY23.

* India is the world’s second-largest producer of crude steel, with an output of 125.32 MT of crude steel and finished steel production of 121.29 MT in FY23.

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.

Policy
support

* In October 2021, the government announced guidelines for the approved specialty steel production-linked incentive (PLI) scheme.

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

Competitive
Advantage

* India’s steel production is estimated to grow 4-7% to 123-127 MT in FY24.

* 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.

Last updated: Feb, 2024

States with the Highest Steel-Producing Capacity in India

  • Odisha
  • Chhattisgarh
  • Jharkhand
  • Karnataka
FDI Confidence Index 2012

Posters

MORE
PROVEN METTLE IN STEEL

PROVEN METTLE IN STEEL

India is tyhe world's largest producer of crude steel, and is currently doubling its production capacity.

IBEF Campaigns

MORE
Gulfood Dubai 2023

Gulfood Dubai 2023

APEDA India Pavilion Gulfood February 20th-26th, 2022 | World Trade Centre,...

India Organic Biofach 2022

India Organic Biofach 2022

Ibef Organic Indian Pavilion BIOFACH2022 July 26th-29th, 2022 | Nuremberg, ...

Case Studies

MORE

The Growth of Ayurveda in India

The Growth of Ayurveda in India

Ayurveda, an ancient health system originating from India, has a longstanding history. It revolves around using plants and herbs to maintain health an...

The Success of Digital India

The Success of Digital India

India's digital ecosystem has undergone an enormous change in recent years. The progressive integration of government services into digital platfo...

A Green, Sustainable Cotton: Kala Cotton

A Green, Sustainable Cotton: Kala Cotton

Kala Cotton is indigenous to India and one of the few “Old World” varieties that is still being cultivated on a large scale in India. Farm...

IBEF BLOG

MORE
Unlocking the potential of skill financing in India
20 Feb 2024

Unlocking the potential of skill financing in India

Skill financing involves providing financial support to individuals or orga...

Indian M&E sector - The growing Short Form Video industry
20 Feb 2024

Indian M&E sector - The growing Short Form Video industry

Indians presently consume about 20GB of data per month on average, ranking ...

AgriTech Landscape in India
16 Feb 2024

AgriTech Landscape in India

India is recognised as a global agricultural powerhouse because of its grea...

Partners
Loading...