India to Release New National Steel Policy, Eyes 600 million Tonnes Capacity by 2047, Steel Secretary, Mr. Sandeep Poundrik
- IBEF
- September 30, 2026
The Government of India is set to release a new National Steel Policy for public consultation within about a week, with the proposed framework targeting steelmaking capacity of 600 million tonnes by 2047. Steel Secretary, Mr. Sandeep Poundrik, said the policy is being formulated to support India’s development goals for 2047 and will be placed in the public domain for stakeholder comments. The policy is expected to include measures to discourage imports of cheap and sub-standard steel, including safeguard and anti-dumping duties, while supporting the competitiveness of smaller steel producers through improvements in technology and pricing.
The proposed framework is also expected to focus on green steel, speciality steel and stainless steel, with production targets for 2035 and 2047, alongside measures aimed at premium products and import substitution. The draft policy seeks to reduce the steel sector’s average carbon emission intensity to around 1.54 tonnes of carbon dioxide per tonne of crude steel by 2047, from about 2.54 tonnes currently, supporting India’s net-zero emissions target for 2070. It also projects iron ore demand at 772 million tonnes and coking coal demand at 214 million tonnes, with plans to diversify raw material supplies through overseas assets, joint ventures and strategic global outreach. The existing National Steel Policy 2017 targets 300 million tonnes of crude steel capacity by 2030-31.
Disclaimer: This information has been collected through secondary research and IBEF is not responsible for any errors in the same.
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