According to the steel secretary, India’s steel production target will be 300 million tonnes by 2030 with an investment need of INR 10 lakh crore.

Feb 3, 2025

The Indian Chamber of Commerce (ICC) hosted a session, Viksit Bharat, in which the steel secretary, Mr. Sandeep Poundrik, along with industry leaders, discussed the need for capacity expansion and investments in the steel sector, ensuring green steel production and maintaining competitiveness.

According to the steel secretary, India’s steel production target will be 300 million tonnes by 2030 and requires an INR 10 lakh crore investment for the same. He emphasized the need for a further increase in the production capacity to 700-800 million tonnes by 2047.

The steel sector is shifting towards low-carbon technologies like hydrogen-based production to align with global sustainability initiatives, ensuring competitiveness and cost-effective domestic steel prices to protect industry margins and enable reinvestment.

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Further, SAIL Chairman Amarendu Prakash discussed the shift from global to local trade practices in the steel sector. The government is also focusing on infrastructural development like capacity expansion of the Bokaro steel plant and revival of the RINL-VSP plant to meet the steel demands domestically.