India’s finished steel consumption grew at a CAGR of 5.2% during FY16-FY20 to reach 100 MT. India’scrude steel and finished steel production increased to 108.5 MT and 101.03 MT in FY20P, respectively.
Between April 2020 and January 2021, India’s cumulative production of finished steel at 76.04 MT. Forthe period April 2020 and February 2021, India’s cumulative production of crude steel stood at 93.1 MT.
The National Steel Policy, 2017 envisage 300 million tonnes of production capacity by 2030-31. Theper capita consumption of steel has increased from 57.6 kgs to 74.1 kgs during the last five years. Thegovernment has a fixed objective of increasing rural consumption of steel from the current 19.6 kg/percapita to 38 kg/per capita by 2030-31.