India’s Steel Demand Offers Huge Growth Potential: ISA
By ThePip Desk
Discover how India’s low per capita steel consumption of 107 kg compared to the global average of 220 kg offers massive headroom for domestic growth.
Indian Steel Association President Naveen Jindal noted that India’s lower per capita steel consumption compared to the global average leaves ample headroom for domestic output to be absorbed locally. The country’s per capita steel consumption is significantly lower at around 107 kg annually compared to the world average of 220 kg.
Production Targets and Output Growth
Addressing protectionist measures by various countries creating headwinds for Indian steel players, Naveen Jindal stated that India is a very big market in itself with huge scope to grow. The government has set a target of producing 300 million tonnes by 2030 and is working on infrastructure all over the country. India’s crude steel output has grown by over 10.7% year-on-year to around 168.4 million tonnes during the April to March period of 2026.
Carbon Reduction and Energy Security
Regarding carbon emissions, Naveen Jindal stated that the domestic steel sector is taking multiple measures to reduce emissions to help India meet net zero goals set by the government. Amid the West Asia crisis, he highlighted that the country has enough sources of energy despite being dependent on fuel, adding that the country is doing very well compared to other large economies.