The Government has the draft National Steel Policy – Vision 2047, which provides long-term policy framework to build a globally competitive, technologically advanced, environmentally sustainable and resource-efficient steel sector. The Policy aims to meet the country’s growing steel requirements, while strengthening India’s position in the global steel industry. The policy projects the country’s per capita steel consumption rising to 302 kilogram from the current 116 kilogram, while India’s crude steel production has already increased from 89 million tonnes in 2014-15 to 170 million tonnes in 2025-26. The Policy also projects an increase in the country’s steel exports to 45 MT by 2047. Further, it says that India aims a near threefold expansion in crude steelmaking capacity to 604 million tonnes by 2047 and raise finished steel demand to 505 million tonnes.
The draft Policy focuses on promoting greater use of steel in infrastructure, housing, transportation, renewable energy, and emerging manufacturing sectors. It also places emphasis on cleaner steel production, seeking to lower average emissions intensity from 2.54 tonnes of carbon dioxide per tonne of crude steel to 1.54 tonnes by 2047 through measures including greater energy efficiency, renewable electricity, increased scrap use and hydrogen-based steelmaking. Furthermore, the policy proposes strengthening domestic capabilities in specialty and high-value steel, developing steel scrap collection and recycling systems, and promoting indigenous manufacturing of steelmaking technology and equipment.
The policy identifies artificial intelligence, automation and digital technologies as tools to improve productivity, quality and resource efficiency. The proposed framework aims to guide the steel sector’s development through 2047, with implementation requiring coordinated efforts by the Centre, state governments, industry and other stakeholders.
