Iron & Steel Industry in India

Expansion of steel production capacity to 300 MT will translate into additional investment of Rs. 10 lakh crore (US$ 156.08 billion) by 2030-31.

Advantage India

Robust
Demand

*India’s finished steel consumption stood at 119.17 MT in FY23, 136.29 MT in FY24 and 111.49 MT in FY25*.

*India’s domestic steel demand is estimated to grow by 9-10% in FY25 as per ICRA.

*To boost post-COVID-19 economic recovery, the government plans major investments in infrastructure like roads, railways, metros, industrial parks, corridors, DFC, water and energy transport, transmission towers, and affordable housing, driving strong demand for steel.​

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.​

*PLI short-listed companies are expected to invest US$ 1.2 billion (Rs. 10,000 crore) in specialty steel-making next year and nearly US$ 1.9 billion (Rs. 16,000 crore) by FY24-end.​​

Policy
Support

*In February 2024, The government has implemented various measures to promote self-reliance in the steel industry.​​

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

Competitive
Advantage

*In FY25 (April-February), crude steel production in India stood at 132.57 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.​

Last updated: Aug, 2025

States with the Highest Steel-Producing Capacity in India

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

Posters

MORE
Steel Manufacturing Companies in India

Steel Manufacturing Companies in India

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

IBEF Campaigns

MORE
Discover India

Discover India

A campaign designed to showcase the country’s rich heritage, vibrant ...

Aatmanirbhar Bharat Utsav 2024

Aatmanirbhar Bharat Utsav 2024

Union Minister of External Affairs, Dr. S. Jaishankar and Union Commerce an...

Case Studies

MORE

India’s Animation & Comic Industry Expansion: The Rise of Indigenous Animated Content and Comic Storytelling

India’s Animation & Comic Industry Expansion: The Rise of Indigenous Animated Content and Comic Storytelling

India’s animation and comic industry is undergoing a dynamic transformation, evolving from a service-based outsourcing hub into a vibrant ecosys...

Driving Global: India’s Rising Passenger Vehicle Exports and its Emergence as an Automotive Export Hub

Driving Global: India’s Rising Passenger Vehicle Exports and its Emergence as an Automotive Export Hub

India’s automotive sector has long been a pillar of its industrial and economic strength. The growing momentum in passenger vehicle exports sign...

Fuelling Growth: How India’s Petrochemical Industry is Powering Economic Transformation

Fuelling Growth: How India’s Petrochemical Industry is Powering Economic Transformation

Petrochemicals are the unsung heroes of the modern industrial economy. Derived primarily from hydrocarbons such as natural gas and crude oil, these ch...

IBEF BLOG

MORE
Exploring India’s Rare Earth Elements Industry: Potential and Global Impact
16 Sep 2025

Exploring India’s Rare Earth Elements Industry: Potential and Global Impact

India is undergoing a global transition in technology and energy with deter...

Energy Storage in India: Unlocking the Potential for a Sustainable Future
15 Sep 2025

Energy Storage in India: Unlocking the Potential for a Sustainable Future

India has emerged as a leader in clean energy within the G20. In fact, Indi...

Decoding the Rise of the Pet Care Industry in India: A New Consumer Growth Story
12 Sep 2025

Decoding the Rise of the Pet Care Industry in India: A New Consumer Growth Story

The Indian economic shifts, along with changes in societal norms, have tran...

Partners
Loading...