The Indian steel industry is in need of Rs 10 lakh crore in private investment to increase manufacturing capacity by 120 million tonnes. Without this investment, India may become a net importer of steel by 2030.
The industry is facing challenges in terms of profitability due to excessive dumping, which has caused international prices to decline. The industry has requested an anti-dumping duty, which is currently being considered.
Furthermore, there has been a significant increase in inventory levels, with steel imports rising by 41% year-on-year in the first half of FY25.