charting a transformative course towards becoming a self-reliant powerhouse in steel production, shipbuilding, and high-tech manufacturing. This ambitious trajectory, championed by the government, is set to position India not only as a global leader in steel but also as a key exporter of modern ships and high-grade steel, marking a major shift in the country’s economic and industrial policies.
At the forefront of this vision is the country’s steel sector, which is undergoing significant expansion, underpinned by government initiatives like the PM Gati Shakti National Master Plan and the National Infrastructure Pipeline. Prime Minister Narendra Modi, in his remarks during the India Steel 2025 event, emphasized the central role steel plays in shaping modern economies. Steel, he pointed out, is the backbone of critical sectors such as construction, manufacturing, and transport, driving forward projects in smart cities, railways, highways, and shipbuilding.India, currently the world’s second-largest steel producer, has set an ambitious target of producing 300 million tonnes of steel by 2030. This vision aligns with the country’s broader goal of becoming a $5 trillion economy. To achieve this, the Indian government is laying the groundwork for a massive increase in steel consumption, with expectations that per capita consumption will rise from 98 kg to 160 kg by 2030. This surge is seen as a benchmark for the nation’s infrastructure growth and economic development, paving the way for increased demand in various sectors including automotive, construction, and defence.
also read : https://urbanacres.in/india-moves-to-revamp-coastal-shipping-industry/
The strategic push towards domestic manufacturing of steel and large ships is particularly noteworthy. For years, India has relied on imports for high-grade steel used in defence, aerospace, and strategic infrastructure projects. However, a shift towards self-sufficiency is now taking place, with India’s first indigenous aircraft carrier and the Chandrayaan space mission both powered by domestically produced steel. Additionally, the shipbuilding sector has been reclassified as a key infrastructure area, with government policies focused on creating a strong export market for Indian-made ships. By 2047, India aims to export 25 million tonnes of steel and ramp up its production capacity to 500 million tonnes.One of the critical enablers of this growth is the government’s focus on ‘Made in India’ steel for all public sector projects. The construction of smart cities, highways, and millions of homes under the PM Awas Yojana, along with the Jal Jeevan Mission, is driving an unprecedented demand for steel.
This, in turn, is creating new growth opportunities for India’s steelmakers, particularly in eastern India, where much of the steel production is concentrated.While the steel sector’s expansion is promising, it is not without challenges. The country continues to depend on imports for certain raw materials, notably nickel, coking coal, and manganese, which remain essential for high-quality steel production. Addressing these gaps will require strengthening global partnerships, securing supply chains, and investing in alternative technologies such as coal gasification and Direct Reduced Iron (DRI) routes. Additionally, the increasing global emphasis on sustainability will push India’s steelmakers to adopt energy-efficient, low-emission technologies to reduce their carbon footprint.The need for innovation in the sector cannot be overstated. The future of the steel industry is likely to be shaped by advancements in AI,
automation, recycling, and by-product utilization. Industry stakeholders, both public and private, are urged to collaborate in research and development, technology upgrades, and manufacturing processes that align with the principles of sustainability. The government’s focus on low-emission technologies and smart manufacturing will be crucial in meeting both domestic and international demands while contributing to India’s net export targets.In conclusion, India’s steel industry is at a pivotal juncture, poised for significant growth and transformation. The government’s proactive approach to fostering self-reliance in steel production, coupled with the expanding shipbuilding industry and infrastructure projects, marks the beginning of a new chapter in India’s industrial history. As the country moves toward a goal of zero imports in key sectors and a focus on net exports, the growth of the steel industry will be integral to the larger vision of India’s sustainable and equitable development.
also read : https://urbanacres.in/global-shipping-industry-launches-new-security-measures/
