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%.
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Registrations Open
This curtain-raiser session will offer:
Speakers- Panelist:
This session will explore the evolving demand landscape of India’s steel industry, with a focus on:
Speaker- Panelist
As the world moves towards sustainable steelmaking, scrap has become a critical raw material and a commodity in short supply. This session will delve into:
As the Speaker-Panelist:
Honouring Our Sponsors
Exhibitor Networking Zone
Lunch
Speakers- Panelist:
What are the global dynamics of commodity pricing, and how are prices and indexing set according to IOSCO standards? The session will focus on:
Speaker-Panelist:
A significant portion of South India's steel production is scrap-based, which is inherently more climate-friendly.
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This session will highlight how emerging technologies are transforming India’s steel industry by improving efficiency and product quality. Discussions will cover:
Speakers-Panelist:
How second-generation leaders are shifting the perception of steel from a raw material to a value-driven brand through purposeful storytelling, digital presence, and customer-centric messaging.
Speakers:
If you want to attend this conference and participate in the programme, then please hurry and register now!
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If you attended previous conferences and want to participate in the programme again, then please hurry and get your Download Previous Participants List!
14-June-2025
India's scrap consumption rises nearly 45% since CY'21 Scrap usage in steelmaking to reach 54-55 mnt by FY'30 Global trade protectionism threatens sustained quality scrap suppliesMorning Brief: Ferrous scrap plays a stellar role in sustaining burgeo...
14-June-2025
Indias steel demand to reach 192 million tonnes by 2030, growing at a 6% CAGR. Construction and infrastructure to drive over 60% of total demand. Per capita steel consumption to nearly double from 96 kg to 160 kg.Indias steel sector is entering a de...
05-June-2025
Shorter transit times, freight economics drive shift to bulk Quality, grade specifications better controlled in bulk mode Chennai, Vizag port infrastructure suited to bulk vesselsMorning Brief: South India, the country's third-largest ferrous scrap-...
03-June-2025
States steel production surging but scrap collection struggling to keep pace Mills relying on imports and sponge iron to bridge raw material gap Seasonal disruptions, fragmented supply chains may deepen scrap vulnerabilityMorning Brief: Tamil Nadus ...
30-May-2025
Far East, SE Asia provide higher quality scrap grades Shorter transit times, lower freights attract importers Demand for imported scrap to decline in CY'25Morning Brief:South India, with consolidated steelmaking capacity of around 42 million tonnes ...
23-May-2025
Access to renewables, solid manufacturing base region's key strengths India first country in the world to launch green steel taxonomyGreen steel technology refers to methods of producing steel with significantly lower carbon emissions, often using r...
23-May-2025
Region's crude steel production in FY'25 was over 28 mnt Scrap consumption in steelmaking may rise 10% by FY'30 BF-BOF to drive capacity expansion in some states in the regionMorning Brief: Crude steel production and capacity enhancement in India is...
12-May-2025
South Indian states have around 42 mnt of steelmaking capacity Region has the highest per capita steel consumption in IndiaIn south India, the secondary steel sector is crucial to the production of a wide range of steel products, especially when it ...
08-May-2025
Do you know how India's rising steel capacities are tipping the demand-supply balance The emergence of south India as a hub of economic growth and expansion in manufacturing capacity has been phenomenal! With 42 Mnt of crude steel capacity, south Ind...
Faizan Raza
+91-9575100430
faizan@bigmint.co
Ajeet Singh
+91-9009222344
ajeet@bigmint.co
Anamika Jain
+91-8962962382
anamika.j@bigmint.co
