Steel
India became world's third largest crude steel producer in 2017.

Indian Steel Industry Analysis

Latest update: December, 2018

Growth

 

Last Updated: December, 2018

India was the world’s third largest steel producer and consumer, as of 2017. The country is slated to surpass USA to become the world’s second largest steel consumer in 2019.

In FY18, India produced 104.98 million tonnes (MT) and 103.13 MT of finished steel and crude steel, respectively. Crude steel production between Apr-Oct 2018(P) reached 61.03 million tonnes.

India was also a next exporter of steel in FY18. Exports and imports of finished steel stood at 4.33 MT and 5.41 MT, during Apr-Nov 2018 (P).

Steel consumption is expected to grow 7.5 per cent year-on-year to 95.4 MT in 2018. India’s steel production is expected to increase from 103.13 MT in FY18 to 128.6 MT by 2021.

The Government has taken various steps to boost the sector including the introduction of National Steel Policy 2017 and allowing 100 per cent Foreign Direct Investment (FDI) in the steel sector under the automatic route.

India’s per capita consumption of steel grew to 68 kgs, as of April-February 2017-18(P). National Steel Policy 2017 aims to increase the per capita steel consumption to 160 kgs by 2030-31.

Note: kg – kilograms, P - Provisional

Indian Steel Industry Report (December, 2018)
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Indian Steel Industry Report (November, 2018)
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Click to access the Steel Industry Archived Report

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