India's draft steel policy aims to expand capacity to 600 million metric tons by 2047, up from 220 million tons in fiscal 2026. The plan also targets cutting average carbon intensity from 2.54 to 1.54 tons of CO2 per ton of crude steel, supporting India's net-zero by 2070 pledge. Raw material demand for iron ore and coking coal is expected to rise sharply, prompting plans for overseas assets and joint ventures to secure supplies. The policy addresses emissions reduction and resource security, but implementation will hinge on technology shifts like green hydrogen and scrap-based production. India's recent net import of finished steel highlights trade pressures. The roadmap will need clear financing and regulatory mechanisms to turn capacity and emission targets into reality.
