India released a draft steel policy on October 11, 2026, targeting 604 million metric tonnes of capacity by 2047. The plan aims to cut carbon emissions while securing iron ore and coking coal supplies. Officials said they will pursue foreign assets and joint ventures to meet this massive future demand growth.
India released a draft steel policy for public consultation late on Saturday, targeting 604 million metric tonnes of steel capacity by 2047 from around 220 million tonnes at present.
Reuters reported last week, citing the draft document, that the policy lays out plans to cut sector emissions and shore up access to iron ore and coking coal -- key raw materials -- to meet anticipated demand.
The policy aims to cut the sector's average carbon-emission intensity to around 1.54 tonnes of carbon dioxide per ton of crude steel by 2047 from the current 2.54 tonnes, in line with India's net zero emission goal for 2070, according to the draft document.
The steel ministry expects iron ore demand at 772 million tonnes and plans to secure access to high-grade reserves by pursuing foreign assets and joint ventures, the document said.
The ministry also expects coking coal demand to reach 236 million tonnes, the document said, with the government planning to diversify its sourcing via "strategic global outreach" and acquire overseas assets.