Government to roll out new National Steel Policy soon, says steel secretary
This story was originally published at 12:47 IST on 29 September 2026
Register to read our real-time news.Informist, Tuesday, Sept. 29, 2026
Please click here to read all liners published on this story
--Steel Secy: Steel consumption growing faster than capacity
--Steel Secy: National steel policy to open for public comments next week
--Steel Secy: Planning to launch national steel policy soon
--Steel Secy: Construction sector to be biggest steel consumer by 2047
--Steel Secy: Automotive sector to be major steel consumer by 2047
--Steel Secy: Working with countries on tech, raw materials for steel sector
NEW DELHI - The government is planning to soon roll out National Steel Policy and will open it for public consultation by next week, Steel Secretary Sandeep Poundrik said Tuesday. Under the policy, the government expects India to produce over 600 million tonnes of steel and the consumption of steel to be more than 500 million tonnes by 2047, according to Poundrik.
"So 500 million tonnes of consumption, out of which about 45 million tonnes we expect that will be exports. Not necessarily direct exports, but through products. We want to produce more and more speciality steel. What we call speciality steel is basically what we make for automobiles, defence, aerospace, all those broad grades," Poundrik said at the CII Manufacturing Confluence in New Delhi.
The policy will also focus on integration of technology, especially for the procurement of raw materials, according to Poundrik. Notably, the government is also working through international collaboration for technology and raw materials for the steel sector, as per Poundrik.
"One thing which we are focusing on is international collaboration. We are working with countries so that we get technologies, we get raw materials and we get markets which are important things for the steel sector," Poundrik said.
According to Poundrik, the domestic steel consumption is growing at a faster pace than the capacity. "Consumption is growing faster than the capacity. The growth of consumption is 11%, the capacity is 9%. So, we need this capacity if we want to remain self-reliant and not dependent on our labor for this strategic road to manufacturing," he added.
Among various sectors, Poundrik expects automotive and construction to be the largest consumers of steel by 2047. End
Reported by Astha Oriel and Pratiksha
Edited by Akul Nishant Akhoury
For users of real-time market data terminals, Informist news is available exclusively on the NSE Cogencis WorkStation.
Cogencis news is now Informist news. This follows the acquisition of Cogencis Information Services Ltd. by NSE Data & Analytics Ltd., a 100% subsidiary of the National Stock Exchange of India Ltd. As a part of the transaction, the news department of Cogencis has been sold to Informist Media Pvt. Ltd.
Informist Media Tel +91 (11) 4220-1000
Send comments to feedback@informistmedia.com
© Informist Media Pvt. Ltd. 2026. All rights reserved.
To read more please subscribe
Share this Story:
