India Targets 604 Million Tonnes Steel Capacity by 2047

The Ministry of Steel of India has released a draft National Steel Policy—Vision 2047, which aims to expand the nation's crude steel capacity from 220 million tonnes to 604 million tonnes by 2047. The policy, released for public consultation on October 10, 2026, replaces the 2017 framework and projects that finished steel demand will reach 505 million tonnes, with per capita consumption rising to 302 kg.

To sustain this growth, the government plans to secure critical raw materials through overseas asset acquisitions and strategic partnerships with Brazil, Indonesia, Japan, South Korea, and Russia. This strategy addresses a projected tripling of coking coal demand to 236 million tonnes annually and a total raw material requirement of 772 million tonnes of high-grade iron ore and coal.

Environmental targets include reducing carbon emission intensity from 2.54 to 1.54 metric tonnes of CO2 per tonne of crude steel. The ministry intends to achieve this through carbon capture and hydrogen-based production to align with India's net zero goal for 2070, though absolute emissions may nearly double due to increased output. Additional measures include the use of AI-based import monitoring to block sub-standard steel and a transition to rail transport for raw materials and finished goods to alleviate road congestion.