The Government has drafted a long-term policy for the steel sector aiming to boost domestic production and exports, and promote cleaner steel production.
The Indian government has released a draft of the National Steel Policy-Vision 2047. This policy aims to establish a globally competitive, technologically advanced, environmentally sustainable, and resource-efficient steel sector within India. Key objectives include meeting the country's growing steel demands and strengthening its position in the global market.
According to the draft, the per capita steel consumption is projected to rise from the current 116 kilograms to 302 kilograms by 2047. Crude steel production has already increased from 89 million tonnes in 2014-15 to a planned 170 million tonnes in 2025-26, and the policy targets further growth to 604 million tonnes by 2047. Steel exports are expected to reach 45 MT by the same year.
The policy also emphasizes the promotion of steel usage in infrastructure, housing, transportation, renewable energy, and emerging manufacturing sectors. Additionally, it focuses on cleaner steel production, aiming to reduce average emissions intensity from 2.54 tonnes of carbon dioxide per tonne of crude steel to 1.54 tonnes by 2047 through measures such as greater energy efficiency, renewable electricity, increased scrap use, and hydrogen-based steel-making.
Source:
Akashvani News
