India Unveils Steel Policy Targeting 604 Million Tons Capacity by 2047
· Business · Reuters
The Ministry of Steel has unveiled the National Steel Policy Vision 2047, setting a domestic crude steel production capacity target of 604 million tons by 2047. The long-term framework aims to scale up infrastructure and industrial output to meet projected domestic and international demand over the next two decades. Steel ministry officials drafted the roadmap in consultation with industry stakeholders and various industrial bodies, including BigMint. The policy outlines strategies to boost raw material security, enhance energy efficiency, and promote green steel manufacturing technologies across the country. Specific capital allocation figures, final implementation timelines, and regional manufacturing hubs remain to be detailed in subsequent phased notifications.
Why it matters
This policy sets the long-term output roadmap for India's domestic steel sector, directly impacting infrastructure developers, raw material suppliers, and capital-goods manufacturers.
Read the original report — Reuters
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