India is the second-largest crude steel producer globally
Production reached 141.1 million tonnes in 2022
(World Steel Association, 2023)
Rising infrastructure spending by the government fuels demand
Growing automobile and manufacturing sectors are key consumers
(FICCI, 2023).
India's per capita steel consumption is still low compared to developed nations
However, it is steadily increasing, indicating growth potential
(World Steel Association, 2023).
Limited availability and high import dependence for coking coal (CARE Ratings, 2023).
Inefficient infrastructure adds to transportation costs (World Bank, 2023).
Modernization and adoption of new technologies can improve efficiency (CII, 2023)
Focus on reducing energy consumption and waste generation (Ministry of Steel, Government of India, 2023)
Policy measures to promote domestic steel usage in government projects.
Schemes to encourage research and development for efficient steel production (Ministry of Steel, Government of India, 2023).
India's
#2 steel industry
poised for leadership with rising demand, efficiency push, and government backing.