India Draft Steel Policy 2047: 604 MT Capacity and Lower Carbon Intensity

India's draft National Steel Policy Vision 2047 sets a target of 604 million tonnes of crude steelmaking capacity by 2047, up from around 220 million tonnes today. It also projects per-capita steel consumption rising from 116 kg to 302 kg and finished steel demand reaching 505 million tonnes. The sector is a major source of emissions, so these numbers matter for anyone tracking India's climate trajectory. On the raw material side, India imports nearly 92% of its coking coal. The draft policy calls for expanding domestic mining, coal washing, blending, and overseas sourcing. It also targets cutting the average carbon intensity of steel from 2.54 to 1.54 tonnes of CO2 per tonne of crude steel by 2047, with levers that include renewable electricity, scrap-based production, and hydrogen-based steelmaking. None of this is binding yet, and the policy does not detail financing or enforcement. But it signals that Indian steel will stay central to the country's emissions and energy debate for the next two decades.