Eyes on 2025: Challenges and Opportunities for India's Steel Industry

The Indian steel industry faces challenges from import surges and the push for greener production. Government policies and investments are crucial for achieving a projected 300 MnT capacity by 2030. The industry is urged to decarbonize in response to global emissions standards, while grappling with raw material price volatility.

Amid a backdrop of rising imports, the Indian steel industry is keenly observing policy developments in 2025 to protect its interests. The sector aims for a 300 MnT capacity target, despite fluctuating raw material prices.

Transitioning to clean manufacturing processes is another hurdle, prompted by the government's emphasis on green steel production. Global pressures demand the reduction of greenhouse gas emissions in hard-to-abate industries.

The steel industry foresees policy backing for production and raw material imports, accompanied by fiscal incentives. Efforts are needed to reduce emissions and enhance energy efficiency, especially given external pressures such as the European Union's CBAM measure.

(With inputs from agencies.)