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"The Ministry of Steel oversees the development and regulation of the steel industry in India, with a vision to make India a global leader in steel production. It formulates policies, fosters innovation, and ensures sustainable sector growth. The Ministry plays a key role in setting up iron and steel production facilities, including electric arc furnaces, induction furnaces, re-rollers, flat products units, coating units, wire drawing units, and steel scrap processing. It also focuses on the development of iron ore mines in the public sector, along with other key minerals essential to the steel industry. The Ministry manages the production, distribution, pricing, and trade of iron, steel, and ferro-alloys. By promoting technological advancements and enhancing steel quality, it contributes to India’s economic growth and meets the rising demands of the steel industry. The Ministry is presently headed by a Cabinet Minister, assisted by a Minister of State and other senior officials."

"The steel consumption in a country is often a reflection of its economic development and industrial growth. To boost domestic steel production, the Government introduced the National Steel Policy (NSP) 2017 on May 8, 2017, with the goal of accelerating the development of the steel industry. The policy aims to fulfil the domestic demand for steel, including high-grade automotive steel, electrical steel, special steel, and alloys for strategic purposes. By 2030-31, the policy targets a crude steel production capacity of 300 million tonnes (MT), with a production goal of 255 MT, and a significant increase in finished steel consumption per capita to 158 kg, compared to the current 97.7 kg. India's crude steel production and finished steel consumption have grown at a compound annual growth rate of 12% and 14% respectively over the last four years, which is significantly higher compared to the global growth rate of less than 1%. This growth indicates significant potential for the Indian steel sector to expand well beyond 2030, driven by rising demand in construction, automotive, defence, and infrastructure sectors. This positions India as a bright spot in the global steel market, especially in view of either stable or declining steel demand in developed nations. By focusing on increasing production capacity, improving product quality, and meeting domestic demand, the policy strives to make India a self-reliant, competitive global player in the steel industry."

"Decarbonizing the steel industry is a global challenge due to its energy-intensive processes and carbon-heavy inputs. India is focusing towards sustainability and climate change. In alignment with the announcement made by Hon’ble PM in COP26 Summit to reduce carbon intensity of India’s economy by more than 45% by 2030 and achieve net-zero by 2070, Ministry of Steel has initiated a journey towards producing low-carbon steel in a sustainable manner, implementing streamlined efforts and strategies to facilitate the sector's transition. These initiatives aim to decarbonize the steel industry by leveraging multiple technological and process-oriented solutions."

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