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, 138.5 MT in FY24 and 85.71 MT in FY25*.

*The Indian Steel Association (ISA) anticipates that the steel requirement will reach 128.9 MT in the 2023-24 period, showing an increase from 119.9 MT in the preceding year.

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

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-October), the production of crude steel in India stood at 84.94 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: Jan, 2025

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.

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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) in FY22. 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.

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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.

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