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Government Releases Draft National Steel Policy 2047 to Boost Capacity and Curb Imports
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News18•11-10-2026, 10:30
Government Releases Draft National Steel Policy 2047 to Boost Capacity and Curb Imports
- •The draft National Steel Policy 2047 aims to increase India's crude steel capacity to 604 million tonnes and finished steel demand to 505 MT by 2047.
- •The policy focuses on reducing India's heavy reliance on imported coking coal, which currently stands at nearly 92 per cent, through domestic mining and AI-based optimization.
- •Decarbonisation is a core pillar, outlining a phased transition to achieve Net Zero by 2070 to lower India's steel sector emissions.
- •The secondary steel sector, accounting for 47 per cent of crude steel capacity, will receive support for technology improvement, raw material access, and safety.
- •The policy emphasizes value-added steel, digital transformation including Industry 4.0 adoption, and strict quality standards to discourage sub-standard imports.
Key Questions Answered
The draft National Steel Policy 2047 aims to boost India's crude steel capacity to 604 million tonnes, increase finished steel demand to 505 MT, raise per capita consumption to 302 kg, and grow steel exports to 45 MT by the year 2047.
To reduce dependence on importing nearly 92 percent of its coking coal, the policy proposes domestic mining, washery expansion, asset acquisition, long-term supply arrangements, and AI-based optimisation of coal blends.
The steel sector currently contributes 10-12 percent of India's CO2 emissions with an emission intensity above the global average. NSP Vision 2047 outlines a phased transition to achieve Net Zero by 2070 using energy efficiency, renewable electricity, scrap utilisation, and hydrogen.
