India requires an investment of USD 120 billion to add 120 million tonnes of steel-making capacity, aiming for a total of 300 million tonnes by 2030, according to Steel Secretary Sandeep Poundrik. With current capacity at 180 million tonnes, failure to expand could lead to India becoming a net steel importer. The industry must ensure profitability to attract the necessary investments.
India requires Rs 10 lakh crore in private investment to boost steel manufacturing capacity by 120 million tonnes, according to Steel Secretary Sandeep Poundrik. He highlighted concerns over profitability due to excessive dumping, which has depressed international prices, and noted a 41% increase in steel imports in H1FY25. Without significant investment, India risks becoming a net importer of steel by 2030.
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