India's New Steel Policy Targets 600 Million Tonnes by 2047

The Indian government is set to introduce a new national steel policy aimed at enhancing domestic steel production. According to the Secretary for Steel, the initiative aims to increase production capacity to 600 million metric tonnes by the year 2047.

This forthcoming policy will prioritise the manufacturing of high-quality steel products, seeking to reduce the reliance on imports. Strengthening the domestic market is a key component of this strategy.

In addition to the new steel policy, discussions are underway regarding a separate policy focused on the scrapping of steel, which involves the recycling of old steel products. This initiative aims to further support the country's steel industry.

The announcement reflects India's ongoing efforts to bolster its industrial capabilities and position itself as a significant player in the global steel market. The government emphasises that this policy is part of broader plans to enhance infrastructure and ensure sustainable economic growth over the coming decades.