Steel Sector Update : Indian steel producers in a race to capture the Indian steel market By Yes Securities
![](https://portfolio.investmentguruindia.com/uploads/news/9170bdbb1cbbc2d1824580f6c056fda9.jpg)
Follow us Now on Telegram ! Get daily 10 - 12 important updates on Business, Finance and Investment. Join our Telegram Channel
https://t.me/InvestmentGuruIndiacom
Download Telegram App before Joining the Channel
Key pointers of the National Steel Policy 2017 and its targets
The Indian Ministry of Steel set big targets for the growth of the Indian steel sector until 2030 on the back of having strong backward and forward linkages in terms of material flows and income generation. It is also one of the most important products of the modern world and of strategic importance to any industrial nation. From construction, industrial machinery to consumer products, steel finds its way into a wide variety of applications. According to the Ministry of Steel, in India, steel has an output multiplier effect of nearly 1.4x on GDP and employment multiplier factor of 6.8x.
The key objectives outlined in the National Steel Policy are as follows-
* Increase per capita steel consumption to 160 Kgs (currently 81kgs) by 2030-31 by domestically meeting entire demand of high grade automotive steel, electrical steel, special steels and alloys for strategic applications by 2030-31.
* Increase domestic availability of washed coking coal so as to reduce import dependence on coking coal from ~85% to ~65% by 2030-31.
* It is anticipated that a crude steel capacity of 300 MT will be required by 2030-31, based on the demand projections and per capital steel consumption goals. BF/BOF route is expected to contribute about 60-65% of the crude steel capacity & production with remaining 35-40% by EAF & IF route in 2030-31.
In order for India to achieve its goals, government support on the policy front to help the steel producers has become quite necessary. The current capacity of Indian steel producers is ~160 MT whereas India’s consumption is ~124 MT on an annual basis as per the latest data from World Steel Association. In order for India to nearly double its capacities, the ministry of steel believes that an investment of about Rs. 10 lakh crores would be required.
We take a look at the major players in the Indian steel business and how their capex plans line up for the targets they have set both in the short and the long run especially for capacity additions through the BF/BOF route. Major players like Tata Steel, JSW Steel, Jindal Steel & Power, SAIL and others are taking massive capacity additions in the short run as well as for the next 7 years.
Please refer disclaimer at https://yesinvest.in/privacy_policy_disclaimers
SEBI Registration number is INZ000185632
![](https://portfolio.investmentguruindia.com/uploads/news/Arvind Kapil, MD and CEO, Poonawalla Fincorp.jpg)
![](https://portfolio.investmentguruindia.com/uploads/news/telangana22.jpg)
![](https://portfolio.investmentguruindia.com/uploads/news/Manoranjan Sharma, Infomerics Ratings.jpg)
![](https://portfolio.investmentguruindia.com/uploads/news/india22.jpg)
![](https://portfolio.investmentguruindia.com/uploads/news/Manish Chowdhury.jpg)
![](https://portfolio.investmentguruindia.com/uploads/news/Suman Bannerjee.jpg)
![](https://portfolio.investmentguruindia.com/uploads/news/farm22.jpg)
![](https://portfolio.investmentguruindia.com/uploads/news/karnal22.jpg)
![](https://portfolio.investmentguruindia.com/uploads/news/Shrey Jain.jpg)
Tag News
![](https://portfolio.investmentguruindia.com/uploads/news/emkay.jpg)
Chemical Sector Upadate : Demand remains muted; realizations stabilizing by Emkay Global Fin...
![Telecom Sector Upadate : Decoding the industry`s consumer postpaid subscribers by Kotak Institutional Equities](https://portfolio.investmentguruindia.com/uploads/news/TelecomS13.jpg)
![Automobiles Sector Update : Wholesales growth surpasses retails in 1QFY25 By Motilal Oswal Financial Services](https://portfolio.investmentguruindia.com/uploads/news/autosector24.jpg)
![Automobiles Sector Update : Wholesales growth surpasses retails in 1QFY25 By Motilal Oswal Financial Services](https://portfolio.investmentguruindia.com/uploads/news/autosector24.jpg)
More News
![](https://portfolio.investmentguruindia.com/uploads/news/ICICI Securities Ltd.jpg)
Sector Update : ICICI Securities Ltd - Motilal Oswal Financial Services Ltd
![Sector Update : IPM Pulse: Growth recovers from weak Dec By JM Financial Institutional Securities](https://portfolio.investmentguruindia.com/uploads/news/Pharma 06.03.2024.jpg)
![Automobiles & Components Sector Update : 4QFY24 review - Sustaining momentum by Kotak Institutional Equities](https://portfolio.investmentguruindia.com/uploads/news/auto sector new.jpg)
![Oil & Gas Sector Update : Indian Oil & Gas industry gearing up for Net Zero By JM Financial Institutional Securities](https://portfolio.investmentguruindia.com/uploads/news/52b1961635fb8bf74522e8d1e0317499.jpg)