Economy
India’s draft steel policy targets 604 million tonnes of capacity by 2047
India’s draft National Steel Policy 2047 targets 604 million tonnes of crude-steel capacity, 505 million tonnes of finished-steel demand and 45 million tonnes of exports by 2047. It proposes reducing dependence on imported coking coal, supporting secondary producers, developing domestic scrap and specialty steel, and pursuing lower emissions through efficiency, renewables, hydrogen and greater scrap use. The plan also identifies AI, common data standards and autonomous production as priorities, but it remains a draft policy rather than an implemented program.
Editorial summary · Publisher article
What matters
- The policy projects per-capita steel consumption of 302 kilograms and seeks to expand exports to 45 million tonnes by 2047.
- India imports about 92% of its coking-coal requirement, while raw materials account for roughly 65–70% of steelmaking costs.
- The government says steel emissions intensity is 2.54 tonnes of CO2 per tonne, above the cited global average of 1.92.
- The proposal builds on a 2017 policy whose 300-million-tonne 2030 capacity goal is being reassessed.
Context & caveats
- The targets and measures described are from a draft policy and may change before adoption.
Why this made the edition
Detailed draft policy coverage includes capacity, demand, import dependence, decarbonisation, secondary steel and digitalisation targets, with historical comparison and attributed government claims.
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