The draft National Steel Policy 2047 proposes a major expansion in capacity, higher domestic demand and lower emissions intensity, while highlighting raw-material supply challenges.
New Delhi | October 11, 2026
India has released a draft National Steel Policy 2047 for public consultation, setting a target of 604 million tonnes of crude-steel capacity by 2047, compared with around 220 million tonnes at present, according to Reuters and Business Standard.
What the draft proposes
The policy projects finished-steel demand of 505 million tonnes by 2047 and per-capita consumption of 302 kg. It also aims to reduce average emissions intensity from around 2.54 tonnes of carbon dioxide per tonne of crude steel to 1.54 tonnes by 2047.
The raw-material challenge
The draft estimates that India could require 772 million tonnes of iron ore and 236 million tonnes of coking coal by 2047. Although India has substantial iron-ore resources, it imports most of its coking-coal requirement. The policy proposes diversifying supply and pursuing overseas assets and joint ventures.
Why it matters
Steel is essential to infrastructure, construction, transport and manufacturing. Expanding capacity could support industrial activity, but the outcome will depend on investment, demand, raw-material access, energy costs and the sector’s ability to reduce emissions.
The document is a draft open for consultation, not a guarantee that every target will be achieved.
Sources
Reuters — India unveils steel policy aiming for 604 million tons capacity by 2047
