Iron & Steel Industry in India

India is the second largest crude steel producer in the world, with a total production of 103 MT in FY21.

Advantage India

Robust
Demand

* India’s finished steel consumption is anticipated to increase to 230 MT by 2030-31 from 133.596 MT in FY22.

* As of October 2021, India was the world’s second-largest producer of crude steel, with an output of 9.8 MT.

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 2022-23, the government allocated Rs. 47 crore (US$ 6.2 million) to the Ministry of Steel.

Competitive
Advantage

* As of September 2021, India was the world’s second-largest producer of crude steel, with an output of 9.5 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.

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Last updated: Aug, 2022

JSW STEEL

JSW Steel is a flagship company of the JSW Group. The company is a leading integrated steel manufacturer. Currently one of the fastest-growing companies in India, it has a presence in over 100 countries. JSW is also the first company to manufacture high-strength and advanced high-end steel products for its automotive segments.

Company Website: https://www.jsw.in

Tata Steel

Tata Steel is currently the world’s second-most geographically diversified steel producer with an annual crude steel capacity of 34 million tonnes per annum (MTPA). The company one of the few steel operations that is fully integrated – from mining to the manufacturing and marketing of finished products. Continuous improvement in its product and service portfolio, along with success in value creating initiatives for customers, allows the company to serve global growth markets. Today, it operates in 26 countries and has a commercial presence in over 50 countries with employees across five continents. The company’s raw material operations are spread across India and Canada which helps it to be self-sufficient in steel production.

Company Website: https://www.tatasteel.com

Steel Authority of India Limited (SAIL)

Steel Authority of India Limited (SAIL) is the largest steel-making company in India and one of the seven Maharatna’s of the country’s Central Public Sector Enterprises.

The company produces iron and steel at five integrated plants and three special steel plants, located principally in the eastern and central regions of India and situated close to domestic sources of raw materials. SAIL manufactures and sells a broad range of steel products. SAIL mined a total of 32.40 million tonnes of iron ore, fluxes, and coal in FY20.

Company Website: https://www.sail.co.in