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As on : 14-Aug-2025

Economy - Reports
14-Aug-2025 10:54

India set to target 500 million tonnes of steel production by 2047

Ministry of Steel organized a comprehensive workshop on 'Issues of Secondary Steel Industries' to address key challenges and opportunities in the secondary steel sector. The event brought together representatives from major industry associations ' Material Recycling Association of India (MRAI), Sponge Iron Manufacturing Association (SIMA), All India Induction Furnaces Association (AIIFA), Chhattisgarh Sponge Iron Manufacturing Association (CGSIMA), and Pellets Manufacturers Association of India (PMAI) ' along with steel producers from Secondary Steel Industries (SSIs), policymakers, experts, and industry partners. Talking at the event, Union Minister of Steel, H.D. Kumaraswamy, who emphasized the sector's role as the backbone of industrial regionalization, contributing significantly to employment and economic growth. He reiterated the national target of 500 million tonnes (MT) of steel production by 2047 and highlighted India's ambition to lead globally in low-carbon steel. Key initiatives such as the Steel Collaboration Portal under the Steel Research and Technology Mission of India (SRTMI) and the Green Steel Taxonomy were also highlighted. In FY25 (April-February), finished steel production stood at around 140 MT.

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