Daijiworld Media Network - Mumbai
Mumbai, Apr 20: India is accelerating its push to become a global steel powerhouse with an ambitious target of achieving 300 million tonnes (MT) steel production capacity and per capita steel consumption of 160 kg by 2030, the government announced ahead of the much-anticipated India Steel 2025 event in Mumbai.
The steel sector witnessed strong performance in FY25 (April–December), with crude steel production reaching 110.99 MT and finished steel output at 106.86 MT.
Boosting this momentum, the second round of the Production-Linked Incentive (PLI) Scheme 1.1 for specialty steel has attracted investment commitments worth ?17,000 crore. The scheme aims to bolster India’s global edge in high-grade steel manufacturing.
To further this growth vision, the India Steel 2025 exhibition and conference, set to take place next week, will act as a catalyst for cross-border collaboration and highlight key policy reforms and infrastructure initiatives in the steel value chain. Prime Minister Narendra Modi is scheduled to address the event via video conferencing on April 24.
The event will see participation from global leaders, including the Deputy Minister of Industry and Trade of Russia and ambassadors from Australia, Mozambique, and Mongolia — signalling growing strategic partnerships in the steel sector.
Drawing over 12,000 business visitors, 250 exhibitors, and 1,200 delegates, the conference will be one of the largest steel gatherings globally. Country-specific sessions featuring South Korea, Sweden, Australia, and Mongolia will delve into joint research, technology exchange, and resilient supply chain strategies to de-risk Indian steel production.
A Reverse Buyer-Seller Meet will also be organised to unlock new trade and business opportunities, the Ministry of Steel said.