Around 40 million tonne (MT) of new steel-making capacity will be commissioned by FY26, and further, the domestic steel production capacity is expected to reach 300 MT and crude steel production is likely to reach 255 MT by FY31.
This was stated by Chairman of Associated Chambers of Commerce and Industry of India’s (Assocham) National Council on Iron and Steel, Vinod Nowal at the India Steel Summit held in New Delhi on 25 May, 2023.
Further, as per Indian Steel Association (ISA) data, India's total installed steel-making capacity was 154 MT as of March 2023. The addition of 40 MT capacity will then scale it up to 194 MT.