India is preparing a new steel policy that targets 600 million metric tonnes of steelmaking capacity by 2047, up from about 220 million tonnes in fiscal 2026.
According to Reuters, the roadmap also targets lower carbon intensity and stronger access to iron ore and coking coal.
Steel demand and raw materials
The government expects iron ore demand to reach 772 million tonnes and coking coal demand 214 million tonnes. The policy is also expected to encourage overseas resource partnerships.
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Source: Reuters. Published September 30, 2026.
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