India to unveil draft steel policy targeting 600 million tonnes by 2047
India's steel secretary announced that a draft National Steel Policy will be opened for public comment within a week, aiming for 600 million tonnes of capacity by 2047 and including safeguards against cheap imports.
In a recent press briefing, the steel secretary disclosed that the government will place a draft National Steel Policy online for public consultation within about a week, inviting comments from industry and other stakeholders. The forthcoming policy is intended to help India reach the Viksit Bharat objective of 600 million tonnes of steel capacity by 2047, building on earlier targets for green, specialty and stainless steel slated for 2035 and 2047.
It outlines safeguard mechanisms, including anti-dumping and safeguard duties, to curb cheap, sub-standard imports. Additional provisions aim to boost the competitiveness of small Indian steel producers through technology upgrades and price improvements. A senior official emphasized that the existing National Steel Policy 2017 is outdated and must be reviewed before its 2030-31 targets are achieved. The initiative signals a major policy push to modernise the sector and support domestic economic growth.
Why it matters
The policy could reshape India's steel industry, driving capacity growth and protecting domestic producers.
In this story
