Steel is a critical industrial metal for the growth and development of several sectors, including infrastructure, construction, defence, mobility and so on. No wonder there is a strong positive correlation between economic growth and steel consumption. For this reason, steel is called a ‘growth commodity’.

In 2024, world crude steel production was 1,885 million tonnes. China is the world’s largest producer at 1,005 million tonnes. India is by far the world’s second largest, with a production of 150 million tonnes.

India’s finished steel capacity currently stands at about 200 million tonnes, having increased from 171 million tonnes in 2023-24 and 151 million tonnes a year earlier.

Production has been rising consistently in recent years, as can be seen from Table I.

India’s Finished Steel Capacity and Production Trends (Million Tonnes) | India’s Finished Steel Capacity and Production Trends (Million Tonnes)

The current production capacity is an estimated 200 million tonnes.

Given the expansionary phase in which the country currently stands and massive amounts being spent on infrastructure development, India’s steel consumption has been........

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