The Provisional data released by World Steel Association (WSA) is given below for 2022 and 2023 along with the production of crude steel by India and its share in World production.
| Year | Crude Steel Production (mt) | ||
| World* | India# | % Share of India* | |
| 2022 | 1890.2 | 125.4 | 6.6 |
| 2023 | 1892.2 | 140.8 | 7.4 |
| Source: *World Steel Association (WSA); #Joint Plant Committee
mt=million tonnes; *provisional |
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Data on consumption of finished steel in India during 2023-24 and April-June 2024 (provisional) is given below: –
| Year | Finished Steel Consumption (alloy/stainless + non-alloy)
(in mt) |
| 2023-24 | 136.29 |
| April-June 2024-25* | 35.42 |
| Source: Joint Plan Committee; * provisional | |
Data on steel exports by India along with its share in World’s steel export during 2023 is given below: –
| Year | Export (Semis + Finished Steel)
(mt) |
||
| World^* | India# | % Share of India* | |
| 2023 | 434.7 | 7.8 | 1.8 |
| Source: ^ World Steel Association (WSA); #Joint Plant Committee; *provisional | |||
Steel is a de-regulated sector. The Government acts as a facilitator, by creating conducive policy environment for development of the steel sector. The measures taken by the Government to improve production and consumption of steel in the country are as under: –
- Implementation of Domestically Manufactured Iron & Steel Products (DMI&SP) Policy for promoting Made in India steel for Government procurement.
- The Government has launched the Production Linked Incentive (PLI) Scheme for specialty steel to promote the manufacturing of ‘Specialty Steel’ within the country and reduce import by attracting capital investments. The anticipated additional investment under PLI Scheme for specialty steel is Rs. 29,500 crores and an additional capacity creation of around 25 million tonnes (MT) for specialty steel.
- Make in India initiative and the PM Gati-shakti National Master Plan with further engagement with potential users, including from Railways, Defence, Petroleum and Natural Gas, Housing, Civil Aviation, Road Transport and Highways, Agriculture and Rural Development sectors to enhance the steel usage, overall demand for steel and investment in the steel sector in the country.
- Coordination with Ministries and States, besides other countries for facilitating the availability of raw material for steel making on more favourable terms.
- Notification of Steel Scrap Recycling Policy to enhance the availability of domestically generated scrap.
- Notification of 145 numbers Steel Quality Control Orders to prevent manufacturing and import of non-standardized steel and to make available quality steel products to the public at large.
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