India’s steel sector is entering a new growth phase, backed by record crude steel production of 168.4 million tonnes in FY26. Strong infrastructure demand, rising domestic consumption, export growth, and policy support are giving fresh momentum to the industry. Finished steel consumption climbed to 163.7 MT, reflecting India’s expanding construction, manufacturing, and urban development needs.
The government’s Specialty Steel PLI scheme is also strengthening value-added steel production, attracting major investment and creating new capacity. At the same time, green steel, AI adoption, carbon capture technology, and quality control measures are pushing the sector toward cleaner and more competitive growth. India remains the world’s second-largest steel producer, with the industry now focused on sustainability, import reduction, and global market expansion.
