Trade Analytics
Steel
India is expected to become the second-largest steel producer in the world by 2016.

Indian Steel Industry Analysis

Latest update: April, 2018

  • Infrastructure, oil and gas and automotives would drive the growth of the industry
  • Steel production in India is forecast to double by 2031, with growth rate expected to go above 10 per cent in FY18
  • To achieve steel capacity build-up of 300 million tonnes per annum (MTPA) by 2030, India would need to invest US$ 156.08 billion by 2030-31.
  • Ministry of Steel plans to set up Steel Research and Technology Mission in India to promote R&D activities in the sector
  • As of 2017, India is the world’s 3rd largest producer of crude steel (up from 8th in 2003). India’s steel production in 2017 stood at 101.4 MT.
  • National Steel Policy (NSP) implemented to encourage the industry to reach global benchmarks
Growth

Notes: MT - Million Tonnes, FDI – Foreign Direct Investment, P - Provisional
Source: Metallurgical and Materials Engineering Division Board, Aranca Research

  • In FY17, crude steel production in India was 97.42 MT, with the total crude steel production growing at a CAGR of 5.49 per cent over the last 6 years.
  • As of March 2017, the capacity utilisation of steel producers is set to increase with strong export demand and signs of revival in domestic sales. Companies like JSW and Essar Steel have experienced a sharp increase in steel manufacturing in the last 2 months
  • Steel manufacturing output of India is expected to increase to 128.6 MT by 2021, accelerating the country’s share of global steel production from 5.4 per cent in 2017 to 7.7 per cent by 2021.
  • India’s steel output is expected to grow at a CAGR of 8.9 per cent during 2017-21 and India is expected to become top global steel producer^.
Growth

Notes: FY - Indian Financial Year (April – March), MT - Million Tonnes, CAGR - Compound Annual Growth Rate; P – Provisional, 1April 2017 to February 2018 , 2CAGR is till FY17, Figures mentioned are as per latest data available, ^ As per BMI Research Report, *without deducting own consumption by producers
Source: Ministry of Steel Annual Report

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