India Steel 2025: PM Modi Charts Steel Sector's Path to Global Leadership

India, already the world’s second-largest steel producer, is targeting an annual production capacity of 300 million tons by 2030 under the National Steel Policy.

Prime Minister Shri Narendra Modi inaugurated the India Steel 2025 conference via video message from New Delhi today, setting an ambitious tone for India's steel sector. In a forward-looking address, he emphasized the central role of the steel industry in shaping a developed and self-reliant India. "Steel is the backbone of every modern economy," the Prime Minister stated, comparing its importance to that of a skeleton in the human body.

The two-day event in Mumbai is expected to witness dynamic discussions around innovation, partnerships, and policies aimed at propelling the sector to new heights. PM Modi called it a “launchpad for a future-ready steel ecosystem.”

Steel as the Foundation of a $5 Trillion Economy

India, already the world’s second-largest steel producer, is targeting an annual production capacity of 300 million tons by 2030 under the National Steel Policy. The current per capita steel consumption is approximately 98 kilograms and is expected to grow to 160 kilograms by the end of the decade.

The Prime Minister highlighted that this surge in consumption reflects the momentum of India's infrastructure development and economic expansion. “Steel consumption is a golden indicator of a nation’s progress,” he remarked.

PM-Gati Shakti and the Infrastructure Boom

The Prime Minister underlined the strategic impact of the PM-Gati Shakti National Master Plan, which integrates various utility and logistics sectors. By mapping steel units and mining zones for multi-modal connectivity, the plan is bolstering supply chains and reducing logistical inefficiencies.

He also referenced the $1.3 trillion National Infrastructure Pipeline, smart cities, and housing initiatives like PM Awas Yojana, noting that these schemes are significantly fueling demand for steel. Rural infrastructure development through Jal Jeevan Mission was also mentioned as a major steel consumer.

Empowering Domestic Production and Strategic Independence

Shri Modi expressed pride in India’s transition from being a steel importer to producing high-grade steel domestically, including the metal used in India’s first indigenous aircraft carrier and the Chandrayaan lunar mission. This self-sufficiency has been achieved through initiatives such as the Production-Linked Incentive (PLI) scheme.

Shipbuilding was highlighted as a new growth area, with its recent inclusion as infrastructure in the Union Budget. The Prime Minister called attention to increasing demand for pipeline-grade and corrosion-resistant steel to support rapid expansion in sectors like railways and ports.

Towards Net Exporter Status and Advanced Capabilities

India is eyeing a sharp increase in steel exports, aiming for 25 million tons annually, and targets a production capacity of 500 million tons by 2047. The Prime Minister urged the sector to adopt a “zero imports, net exports” mindset while preparing for next-generation steel manufacturing involving newer grades, processes, and digital technologies.

“AI, automation, recycling, and by-product utilization will define the future of the steel industry,” he emphasized, urging stakeholders to innovate and collaborate on all fronts—R&D, workforce development, and sustainability.

Challenges and Calls to Action

The Prime Minister candidly acknowledged persistent challenges such as dependency on imports for raw materials like nickel, manganese, and coking coal. He stressed the importance of securing global supply chains, embracing clean technologies, and adopting the Direct Reduced Iron (DRI) method and coal gasification to reduce import dependency.

He raised concerns about underutilized greenfield mining projects despite reforms aimed at improving access to iron ore and encouraged stakeholders to accelerate efforts in this area.

India’s Global Steel Aspirations

PM Modi concluded by highlighting India’s transformation from a domestic-focused player to a trusted global supplier of high-quality steel. He emphasized the need for world-class standards, efficient logistics, and cost competitiveness to position India as a Global Steel Hub.

He urged both public and private sectors to seize the opportunity, collaborate, and lead the sector into a resilient, sustainable, and technologically advanced future.

“India Steel is not just an event—it’s a call to action for building a steel-strong India,” the Prime Minister concluded, extending best wishes to all participants.