India is set to invest $125–130 billion annually in infrastructure to boost domestic steel consumption, according to Commerce and Industry Minister Piyush Goyal at the Indian Steel Association (ISA) conclave.
Goyal urged the sector to aim for 500 kg per capita steel consumption, nearly 5x the current 104 kg, to match China, the EU, and the US.
He highlighted that free trade agreement (FTA) talks with the EU are nearing completion, with Carbon Border Adjustment Mechanism (CBAM) negotiations high on the agenda.
Key points from his remarks:
🔹 Government efforts will open new export avenues for Indian steelmakers
🔹 Focus on smelting and rolling conditions to prevent unfair imports
🔹 Push for import substitution and stronger domestic supply chains
India has already achieved 205M tons annual steel production capacity and is on track to reach its strategic goal of 300M tons by 2030/31.
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