India's Steel Sector
Significance in Trade and Industry Policy
India is the world's second-largest steel producer (after China) and has consistently aimed to become a net steel exporter. Steel is a critical input for construction, automotive, capital goods, and defence manufacturing. India's National Steel Policy 2017 targets steel production capacity of 300 million tonnes (MT) by 2030–31 (from approximately 180 MT currently) and aims to triple per capita steel consumption. Steel exports to the UK, while a fraction of India's total steel trade, are strategically significant for high-grade specialised steel products (alloy steels, stainless steel) where Indian producers compete in premium markets.
- India's steel production (2024–25): ~145 MT (ranked 2nd globally after China).
- National Steel Policy 2017: Target 300 MT capacity by 2030–31; increase per capita consumption from ~86 kg to 160 kg.
- India's steel exports go primarily to the EU, US, Middle East, and Southeast Asia.
- UK is a significant market for Indian specialised and alloy steel products.
- The UK's domestic steel industry has sought protection from global overcapacity, primarily driven by Chinese production.
● Tracked since March 10, 2026 · last seen June 18, 2026 · updates as the daily brief publishes