The Indian Steel Economy
In an evolving economic landscape, the steel industry plays a vital role in shaping India's growth trajectory. Contributing approximately 2% to the national GDP, the sector is instrumental in India’s pursuit of becoming a $5 trillion economy.
As the world’s second-largest steel producer after China, India boasts an annual production capacity exceeding 170 million tonnes (mnt), with projections to reach 230-240 mnt by 2030. The industry serves as the backbone of key sectors, including construction, infrastructure, automotive, and industrial machinery, directly and indirectly employing millions across the country.
Fuelled by rising domestic demand, rapid urbanization, and large-scale infrastructure projects, India’s steel industry is expanding at an unprecedented pace. Government initiatives such as 'Make in India' and infrastructure development programs further accelerate this growth.
Beyond its economic contributions, steel symbolizes India's resilience and modernization, shaping the bridges, skyscrapers, and industries that define the nation’s progress. However, challenges such as global price volatility and environmental concerns necessitate a shift towards sustainability. Embracing cleaner technologies and enhancing efficiency will be key to ensuring that the Indian steel sector remains competitive while aligning with global sustainability goals.
About Future.Steel
Following the success of our previous conference in the North, we are excited to announce our next edition in the South. As part of a broader initiative, BigMint is launching a series of steel conferences across the four key regions of India—North, South, East, and West. These conferences aim to unite industry stakeholders on a common platform to address critical challenges and explore opportunities for unlocking the untapped potential across the steel value chain. Through insightful discussions led by industry leaders, FUTURE.STEEL is committed to driving collaboration and innovation, shaping the future of the steel industry.
About the Conference: Future.Steel- South
The southern region of India has emerged as a key steel hub, with an annual production capacity of 35 MNT and an output of 27 MNT in FY’24, operating at 77% capacity utilisation. This region, comprising Andhra Pradesh, Karnataka, Kerala, Puducherry, Tamil Nadu, and Telangana, plays a pivotal role in the country’s steel ecosystem.
· Balanced Production Mix: 50% of steel output comes from Blast Furnace technology, while the remaining 50% relies on Induction Furnace technology.
· Major Scrap Consumer & Importer: The southern states account for 25-30% of India's imported scrap consumption, with 1.9 MNT imported in CY’24 (out of 8.5 MNT nationwide).
· Future Growth: Steel production capacity in the region is set to expand to 46 MNT by FY’30, further strengthening its industrial footprint.
The event will bring together industry leaders, policymakers, and experts to discuss the Efficient raw material management, with a special focus on ferrous scrap, Outlook on the automotive sector and growth in the infrastructure and construction segments, Technological innovations driving steel production. Sustainability and the transition toward green steel, Opportunities for expansion and investment in the southern region.
Join us at FUTURE.STEEL as we navigate the evolving landscape of the Indian steel industry and explore strategies to unlock its full potential.
Be a part of the transformation!
India's crude steel industry, with a 206 mnt capacity and 152 mnt estimated production in FY’25, drives economic growth. The Eastern region leads (114 mnt capacity, 83 mnt production), followed by the Southern (42 mnt, 28 mnt), Western (35 mnt, 29 mnt), and Northern (15 mnt, 12 mnt) regions. Production relies on BF-BOF (65 mnt), IF (55 mnt), and EAF (32 mnt). While the Southern and Western regions have a balanced mix, the Northern region depends mainly on IF (11 mnt) with no BF-BOF. This distribution shapes strategy, policy, and investment decisions.
India’s ferrous scrap imports stood at 6.17 mnt by Dec’24 and are projected to reach 8-8.5 mnt by FY25-end, marking a 20% y-o-y drop. Southern India ranked third in import share, accounting for nearly a quarter of volumes.
With automakers concentrated in the region and the EPR policy set for April 2025, ELV scrap generation is expected to support domestic supply. Meanwhile, tightening European scrap supply and rising short-sea origins like Oceania and Southeast Asia may aid Southern Indian importers.
The key question remains: Can India bridge the supply gap, and how will Southern India lead the green steel transition with scrap in focus?
India’s southern region is poised for significant steel production in FY’25, with a crude steel capacity of 41.9 million tonnes (mnt) and an estimated production of 29.4 mnt. Driving this output is a strong demand for raw materials, including 45 mnt of iron ore, 10.8 mnt of metallurgical coal, and 8.5 mnt of non-coking coal.
With 20 mnt of hot metal and 27.9 mnt of finished steel production, the region leverages diverse inputs like DRI (6.5 mnt) and scrap (6.6 mnt). As the industry advances, this resource-intensive growth underscores the need for strategic planning, sustainable sourcing, and technological innovation.
India's National Steel Policy 2017 aimed for a steel capacity of 300 million tonnes by 2030-31, but the COVID-19 pandemic has delayed this target by 2-3 years, with crude steel capacity now expected to reach 242 million tonnes by 2030. BigMint forecasts steel production to reach 215 million tonnes by then, assuming a 7-8% CAGR. By 2030, the share of steel production via the Basic Oxygen Furnace (BOF) route is projected to rise to 50%, while the Electric Arc Furnace (EAF) and induction routes will maintain a combined share of 45%.
If you want to attend this conference and participate in the programme, then please hurry and register now!
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Mr. Ajeet Singh
+91 90092 22344
ajeet@bigmint.co
