India to achieve steel production capacity of 300 million tonnes by 2030

New Delhi, April 20 (IANS) India is on a trajectory to achieve steel production capacity of 300 million tonnes (MT) and a per capita consumption of 160 kg by 2030, according to the government.

In FY25 (April to December period), the production of crude steel stood at 110.99 MT and finished steel stood at 106.86 MT.

Also, the production-linked incentive (PLI) scheme 1.1 for specialty steel has witnessed investment commitments worth Rs 17,000 crore in the second round, according to the government. The expansion of the scheme is expected to further enhance India’s global competitiveness in specialty steel production.

Keeping this ambitious growth in the steel sector in mind, the ‘India Steel 2025’ is set to take place next week in Mumbai to unlock new opportunities for inter-state and international collaboration, facilitate knowledge exchange, and showcase India’s policy reforms and infrastructure initiatives aimed at enhancing the ease of doing business across the steel value chain.

Prime Minister Narendra Modi is scheduled to address the global steel industry event through video conferencing on April 24.

The event will also have a presence of global Industry leaders and senior foreign dignitaries leading high-level delegations, including the Deputy Minister of Industry and Trade of Russia, the Ambassadors of Australia, Mozambique, and Mongolia, reflecting the deepening international engagement and strategic cooperation in the steel sector.

With more than 12,000 business visitors, 250 exhibitors, and 1,200 conference delegates representing various sectors, government departments, state governments, country delegations, and domestic and international buyers from India and abroad, the conference would be one of the biggest steel events globally.

Country-specific sessions involving key steel-producing nations, including South Korea, Sweden, Australia, and Mongolia. These discussions will explore joint research, technology transfer, and resilient supply chains to de-risk India’s steel production and drive global competitiveness.

Reverse Buyer-Seller Meet will also be held to facilitate trade opportunities and foster new business engagements, according to the Ministry of Steel.

—IANS

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