Future Prospects and Challenges in India's Steel Industry

The low market prices of steel are presenting significant challenges for small companies, according to Steel Secretary Sandeep Poundrik, who spoke at the 'STEEL SUMMIT 2025' organized by the Confederation of Indian Industry. The pricing issue is exacerbated by global surplus production and dumping, particularly from China, impacting domestic and international markets.

Poundrik noted that over 150 small steel producers have ceased operations due to unfeasible pricing, raising concerns as the government eyes a capacity increase to 100 million tonnes in the next five to seven years. In response, provisional safeguard duties have been imposed on imported steel to protect domestic manufacturers from external competition.

Industry leaders such as Tata Steel's Koushik Chatterjee and JSW Steel's Jayant Acharya underscored steel's pivotal role in India's industrial transformation, advocating for strategic investment and sustainable solutions. The sector's growth relies on specialty steel and green technologies, facilitating economic resilience and contributing to national development goals.