India's Steel Sector Aims To Reach 300 Million Tonnes Capacity By 2030: Govt Official

(MENAFN- IANS) New Delhi, March 3 (IANS) India's steel sector is targeting a capacity of 300 million tonnes by 2030 and 400 million tonnes by 2035, to position the country as a global leader in steel production, the government said on Tuesday.

Sandeep Poundrik, Secretary, Ministry of Steel highlighted the sector's ambitious expansion plans as the government convened a high‐level interactive session with senior diplomats across the globe to advance strategic collaboration, an official statement said.

The ministry provided a preview of 'Bharat Steel 2026,' an international conference-cum-exhibition scheduled for April 16–17, 2026 at Bharat Mandapam, New Delhi.

Senior diplomats across the globe were also asked suggestions to outline the roadmap for Bharat Steel 2026, it said.

Poundrik emphasised the sector's rapid modernization and invited collaboration from global partners as the domestic steel industry transitions toward low-carbon production pathways and advanced process technologies. He reaffirmed India's commitment to building resilient and sustainable global supply chains rooted in innovation, efficiency, and environmental responsibility, the statement from the Ministry of Steel said.

India's strategy is focused on strengthening raw material security, accelerating technology transfer, advancing green and sustainable steel production, and fostering meaningful global collaboration, he said.

The session witnessed strong engagement from the diplomatic community, with representatives expressing appreciation for India's forward-looking vision and enthusiasm for participating in Bharat Steel 2026, the statement noted.

The PHD Chamber of Commerce and Industry (PHDCCI) one ton of recycled steel saves 1.1 tons of iron ore and 630 kg of coking coal and cuts emissions by 28 per cent, making scrap indispensable to India's growth.

Analysts said that scrap offers a practical short-term decarbonisation solution, with India's carbon intensity at 2.55 tonnes of CO2 per tonne of steel.

Steel demand growth in India is projected to remain steady at around 8 per cent for FY26, generating an incremental demand of 11-12 million tonnes per annum (mtpa).

-IANS

aar/pk

MENAFN03032026000231011071ID1110810273