India has released a draft steel policy that would expand production capacity from 220 million metric tons today to 604 MMT by 2047. The plan is open for public consultation and includes a target to cut average carbon emissions intensity from 2.54 tons of CO2 per ton of crude steel to 1.54 tons by 2047, roughly a 39% reduction. To support that growth, the government expects iron ore demand to reach 772 MMT and coking coal demand 236 MMT. It plans to secure high-grade reserves through overseas investments and joint ventures. The policy faces major implementation hurdles, especially because India's steel industry still relies heavily on coal. Success will depend on new facilities, reliable raw material supply, and adoption of cleaner production technology.
